Life insurance is an insurance coverage that pays out a certain amount of money to the insured or their specified beneficiaries upon a certain event such as death of the individual who is insured. The coverage period for life insurance is usually more than a year. So this requires periodic premium payments, either monthly, quarterly or annually.

The risks that are covered by life insurance are: Premature death | Income during retirement | Illness:

The main products of life insurance include:

  • Whole life
  •   Endowment
  •   Term
  •   Investment-linked
  •   Life annuity plan
  •   Medical and Health

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