LIFE INSURANCE
Life insurance may be a contract between associate insured (insurance policy holder) associated and non depository establishment or as surer, where the non depository establishment guarantees to pay a selected beneficiary a complete of money (the "benefits" in exchange for a premium, upon the death of the insured. counting on the contract, completely different events like terminal unhealthiness or essential unhealthiness will even trigger payment. The policy holder sometimes pays a premium, either often or along payment. completely different expenses (such as ceremony expenses) will even be fenced in at intervals the sides. Life policies square measure legal contracts and thus the terms of the contract describe the restrictions of the insured events. Specific exclusions square measure generally written into the contract to limit the liability of the insurer; common examples square measure claims concerning suicide, fraud, war, riot, and civil commotion. - See more at: http://dejiconsult..com/2015/07/different-types-of-insurance-and-there.html#sthash.C6oEeDhk.dpuf