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What is life insurance?


Life insurance is a contract between the policy owner and the insurer, where the insurer agrees to reimburse the occurrence of the insured individual's death or other event such as terminal illness or critical illness. The insured agrees to pay the cost in terms of insurance premium for the service. Specific exclusions are often written in the contract to limit the liability of the insurer, for example claims related to suicide, fraud, war, riot and civil commotion is not covered.

Other articles on Life Insurance
  1. Life Insurance Overview
  2. What is life insurance?
  3. Why life insurance?
  4. Life insurance types?
  5. How much to insure?
  6. Factors affecting life insurance
  7. Life Insurance tips
  8. Ways to reduce the premium of Life insurance policy
  9. Life Insurance FAQs
  10. Life Insurance claims
  11. Life Insurance - Dos & Donts
  12. What to do when a claim is rejected
  13. Life insurance glossary
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