Life insurance

Life insurance is a contract between the policy owner and the insurer,
where the insurer agrees to reimburse the occurrence of the insured
individual's death orother event such as terminal illness or critical
illness.
 The insured agrees to pay the cost in terms of insurance premium for
the service. Specific exclusions are often written in the contract to limit
the liability of the insurer, for example claims related to suicide, fraud,
war, riot and civil commotion is not covered.
TYPES OF INSURANCE
 Insurance Act
The Insurance Act of 1938 was the first legislation
governing all forms of insurance to provide strict
state control over insurance business.
 Purpose:- to safe guard the interest of insured,
setting the norms for carrying out the business
of insurance smoothly, Minimizing disputes
 INTRODUCTION
Insurance is a contract in which an individual or entity
receives financial protection or reimbursement against losses
from an insurance company