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What is life insurance mean?

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What is life insurance mean?

Asked question is from Insurance topic

The question was posed to me in semester exam.

Other related questions to my question are:

What is life insurance and how does it work?

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Do you get your money back at the end of a term life insurance?

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Correct answer is: Life Insurance can be defined as a contract between an insurance policy holder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period.

The title of my answer is Life Insurance Definition & Meaning | ICICI Prulife

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