LIFE INSURANCE



                   
         Life insurance is a contract under which the insurer in consideration of a premium paid undertakes to pay a fixed sum of money on the death of the insured or in the expiry of a specified period of time. In case of life insurance, the payment of life insurance policy is certain. The event insured against is sure to happen. Only the time of its happening is not known. So life insurance is sometimes known as” life assurance”. The subject matter of insurance is life of human beings. Life insurance provides risk coverage to the life of a person. On the death of a person insurance offers protection against loss of income and compensate the title holders of the policy.

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