Life Insurance

There are two main types of life insurance, namely, endowment insurance, and composite insurance. The endowment insurance is an insurance which is paid out as soon as the insured passes away; if the insured person is alive on the end date of this insurance, the policy will lapse without payment being made. Early death of the insured before the policy expiry date, or the insured person’s survival on the expiry date is the condition for the insurer’s performance. The premium depends on the selected plan, capital, and duration of the insurance.