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What are some of the components of a life insurance contract?

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What are some of the components of a life insurance contract?

My doubt stems from Insurance subject

This question was addressed to me during an interview.

Other related questions to my question are:-

What are three components of a life insurance policy?

What are the components of insurance?

What are the 4 parts of a policy contract?

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Correct answer is: A life insurance policy has two main components—a death benefit and a premium. Term life insurance has these two components, but permanent or whole life insurance policies also have a cash value component.

The title of my answer can be Life Insurance Guide to Policies and Companies

The reference of my answer is Investopedia

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