Protect your loved ones with life insurance, this is a contract with a life insurance company that offers an assurance of a specified amount guaranteeing financial security on the occurrence of a risk. The main benefit of life insurance is that the financial needs of your family are protected should you lose income due to critical illness or death

Insurance companies offer assurance to pay beneficiaries in a life insurance policy on the occurrence of an event like death, critical illness, permanent and temporary disability, or maturity of the term in a term-based policy.