Life Insurance Definition

Many people looking for insurance to protect her/his self and their family's after one of them dies. Here some definition of Life Insurance that I found on the internet. After read this article. I hope you will more understand and you know the answer when some one asking you about Life Insurance.

Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurance of the insured individual's or individual's death or other event such as terminal illnes or critical illnes (wikipedia).

Life insurance is protection against financial loss resulting from death. The insurance company's promise to pay your beneficiany a specific amount when you die in exchange for timely payment of premiums.

Life insurance is insurance for you and your family's peace of mind. Life insurance is policy that people buy from a life insurance company, which can be the basis of protection and financial stability afrer one's death. Its function is to help beneficianies financially after the owner of the policy dies.

I am sure there's so many sources out there, you can find the definition by your self.