Life Insurance for Individuals

Personal life insurance, also known as life assurance or life coverage, is a type of insurance policy that provides financial protection to individuals and their loved ones in the event of the insured person’s death, permanent total or partial disability, critical or terminal illnesses or disappearance.

It serves as a safety net by offering a lump sum payment, known as the death benefit, to the designated beneficiaries upon the insured’s passing. Personal life insurance helps to ensure that dependents and loved ones are financially supported in the absence of the insured’s income, covering expenses such as mortgage payments, education costs, daily living expenses, and outstanding debts.

It provides peace of mind and acts as a financial safeguard, helping to alleviate the financial burden on surviving family members during difficult times.