What is life insurance

 Life insurance is an insurance contract concluded between the owner of the insurance policy and an insurance company, in which it is agreed that the insurance company will pay a certain amount of money in the event of the death of the policy holder to his heirs or the beneficiaries chosen by the


insured, and the policyholder is obligated to pay an amount of Money in monthly subscriptions, monthly installments, or an amount of money all at once.The contract specifies the validity period of the contract, and it is usually agreed in the contract on the amount that the company will pay to the heirs or beneficiaries in the event of the death of the policyholder, and the policy may contain additional contracts or additional benefits that include disability, disability and serious diseases, or be a plan to ensure university education for children or any goals Or other programs.Types of life insurance 1- Life insurance only, and this type of contract includes that the insurance company pays a certain amount of money to the heirs or beneficiaries registered in the contract in the event of the death of the policy holder during the validity period of the contract.On the amount agreed upon in the event of the death of the insured "head of the family", to secure the needs of the household and continue to live in comfort, stability and a decent life after the death of the breadwinner ("head of the family") 2- A contract that includes life insurance and savings: According to this contract, the insurance company pays the contracted amount to the heirs or beneficiaries in the event of the death of the policyholder, or pays the policyholder another contracted sum in the event of his reaching the age of 65 years, for example, which is for him part of Pension.Due to the difference in the two types of contracted insurance, the monthly premium / monthly contribution that the policyholder pays to the insurance company according to the first type is much less than the premium he would pay if he entered into a contract of the second type that includes saving. The monthly subscription / monthly installment may be increased by adding any of the additional protection contracts such as (accidents and amputations, serious diseases, total and permanent disability) that entail additional obligations and costs.

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