A little about life insurance

Life insurance is a contract between the purchaser of insurance and the insurance company, where the insurance company agrees to pay a certain sum of money to the incident of the insured individual or individuals termination or other event, such as the terminal condition or critical affliction. In return, a person in need of insurance agrees to pay a stipulated amount called a bonus, at periodic intervals or lump sums. In some cases bills and death more catering for after funeral expenses should be included in the insurance premium. In the United States, the predominant form simply specifies a lump sum of cash to give on the passage of the cover.
As with most insurance documents, insurance-life insurance is an agreement between the company of insurance and the purchaser of insurance whereby a benefit is paid to the designated beneficiaries if an insured event occurs which is covered by the police. Would be a policy of life insurance covered action must be based on the life of the people approved the policy.
Life events to owner of policies which are sometimes covered in the policy are as follows:
Serious affliction
Life policies are legal contracts and the terms of the contract specify the limitations of insured events. Certain exclusions are often written in the contract to limit the liability of the insurance company; that is, claims involving suicide, fraud, war, riot and civil unrest.
Life insurance contracts are mainly of two types:
Protection documents - set up to organize a benefit in the occurrence of some happening, typically pay a lump sum of cash. A common form of this design is the term life insurance.
Documents of placement - where the main objective is to contribute to the growth of the capital in regular premiums. Some other common forms (in the United States States all same) are whole life, universal life and variable life documents.