A life insurance policy is a contract with an insurance company. In exchange for premiums (payments), the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries in the event of the insured's death. Typically, life insurance is chosen based on the needs and goals of the owner.
Ideal for company employees to assist their families or next of kin in the event that they die, become disabled, or critically ill.
Insurance for individuals in the event of death, disability or critical illness.