Life Insurance

is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment.  Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. There are specific exclusions are often written into the contract to limit the liability of the insurer; common examples are claims relating to suicide, fraud, war, riot, and civil commotion.


Protection Policy

 This is designed to provide a benefit, typically a lump sum payment, in the event of a specified occurrence. A common form, more common in years past of a protection policy design is term insurance.

Investment Policy

The main objective of these policies is to facilitate the growth of capital by regular or single premiums. Common forms (in the U.S.) are whole life, universal life, and variable life policies.

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