Life Insurance is the way to financially secure your family in case something unfortunate happens to you. It must be taken by each and every individual who earns and cares for his/her family.
If you want to know more information, read my hub, "Importance of Term Insurance Plan to secure your family"
basically you pay someone money and when you die depending on the circumstances of you death they pay out money to your beneficiery.
I don't know what life 'insurance' is. You insure when it's something that may happen, if it does, the insurance company pays out.
Life ASSURANCE, we are all assured of death, it's not something that may happen, it will happen, the insurance company pays, when it happens, the assured sum to the beneficiaries.
I think it's still called insurance, isn't it? Correct me if I'm wrong, but it's at least still called insurance in Edmonton... You might check out an insurance company (e.g. http://www.dyckinsurance.com/ ) just to see what they have it listed as.
Life Insurance is the insurance of life...that will pay you in some accidental case...Please view my hub and you can get more...
Life insurance is financial protection for your loved ones that helps them out in case you die. You make monthly payments towards the life insurance. In return you receive insurance coverage. In that way, life insurance is similar to health insurance or car insurance. You don't get anything out of immediately but it's there for you if you need it because you've been paying every month to keep the policy active. When you die, the people you named as beneficiaries are awarded the money that has been agreed upon as part of your life insurance policy.
My hub on comparing life insurance may provide you with more information about the different facets of life insurance and what it is: http://hubpages.com/hub/How-To-Compare-Life-Insurance
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