Basic Life Insurance

Life insurance pertains to a contract agreement between two parties namely the policy owner and the insurer. The policy owner commits to pay a certain amount of money on a regular basis to the insurer. In turn, the insurer agrees to pay the policy owner, also known as the insured, an amount of money in the event of a critical illness or an accident. If in case, the insured died, the money will be given to the beneficiary/beneficiaries specified in the contract.

Several companies offer life insurance. These companies differ in terms of coverage and payment schemes. Choose the one that matches your needs and your budget.