What is life insurance?
Life insurance is an insurance policy that pays for the health and property of someone who is in need of it.
Life insurance companies pay a premium to a private insurance company, called a ‘premium-member’, for the protection of that person.
A premium-member pays a fixed amount of money every year to the insurance company in addition to the premium paid to the customer.
The premium-group also pays a monthly fee to the private insurance provider.
If there is an accident and a life insurance policy is paid, the life insurance company will reimburse the customer for the loss and damage to the life of the person who is covered by the policy.
This can include: The costs of caring for the person’s physical and mental health, and