Concept of Life Insurance

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A Life Insurance is a

  • type of Contract
  • provides for payment of a sum of money
  • to a person assured or following him, to a person entitled to receive the same
  • on the happening of an certain event

Life insurance is a good instrument to provide financial security to the family, in case of death of the breadwinner, by providing funds for the loss of income.

Related Topics

  • Types of Life Insurance

Insurance Topics

  • Fundamental Terms: Insurable interest - uberrima fidei - Contract of Indemnity - Causa Proxima - Subrogation contribution - Representation - Warranties
  • Life Insurance: Concept, Kinds