What is life insurance?

Life insurance is an arrangement in which you (the policyholder) make a purchase from the insurer (insurance company) to the financial security (insurance company) at regular intervals by paying the insured small amount (premium).
This 'protection' is in the form of a pre-approved amount which we call 'Life Cover' or 'Insured amount'. This protection goes unsaid after a certain period (ie the maturity period) or something happens to you during the specified period.
By investing in a life insurance plan today, you are protecting your family tomorrow. Also, life insurance plans are inexpensive, meaning that you are preparing for life's contingencies without disturbing your current financial goals. That way, you can be sure that your loved ones can continue to maintain the lifestyle you have worked so hard to give, no matter what.
Life is about the small moments we enjoy with our loved ones. But these moments can be interrupted by an unexpected event, which will make your family high and dry. Therefore, getting life insurance is the first step towards creating a safe and secure future for your loved ones.
Things to keep in mind for your life insurance premium
When you are calculating the right amount of insurance to suit your lifestyle, also note that there are some factors that pay the premium. Essentially, these factors are associated with your life expectancy and therefore may vary for everyone. Other factors may include lifestyle, job profile and driving record.