Life insurance

Life insurance is an agreement that is executed between an insurer and an insurance company; Where insurance companies guarantee that the death of the borrower will give a certain amount of money to the heir to the insured. Sometimes the insurer receives money while under the terms of the contract, which is seriously ill. The insurer usually provides a fixed amount of money to the insurance authority at one time or at a particular time.

The benefit of the insurer is "mental peace"; Because he knows that after his death his heirs will not suffer from problems.

This procedure is also used for financial benefits after retirement, if the insurer carefully insures the insurance and mentions it in the terms and conditions.

Life insurance is limited by a legal contract and insurance coverage. Here the special terms are written and its liability falls on the bidders; For example, if death due to suicide, war, insurance company does not pay any money to the heir to the insurer.

Life-dependent agreement is divided into two main categories:

• Security policy
• Investment policy