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Life insurance is an agreement between the Person (Insurance Company) with the insured (the Covered Parties) in which the insured is obliged to pay a sum of money (premium) is paid periodically or at the same time.

Instead Person obliged to pay some money to the insured and / or recipient to pay the loss suffered by the insured, such as illness, accident, critical illness, disability, until death. Life insurance is classified into 2 major groups, namely pure insurance and insurance with an investment element.

Basically there are 3 (three) types of life insurance are:
1. Term Assurance
2. Whole Life Assurance
3. Endowment Assurance

1. Term assurance (Insurance Futures)
Term assurance is the basic form of life insurance quotes, which is a policy that provides coverage against the risk of death in the period time.

Explanation:
If the insured dies within the contract period, the insurance company as a guarantor will pay the Insured for money 100 million to the designated.

2. Whole Life Assurance (Life Insurance)
Is another type of life insurance that will pay the insured amount when the insured dies at any time. Is a permanent policy is not limited to the policy expiration date as the term assurance. Because the claim was going to happen then the premium will be more expensive than term assurance premiums, where the claim is only possible. Whole-life policy is a substantive and policy is often used as protection in loans.

3. Endowment Assurance

In this type, the amount of money insured will be paid on the contract end date has been set.

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