Life insurance is a contract that pledges payment of an amount to the person assured
(or his nominee) on the happening of the event insured against.
The contract is valid for payment of the insured amount during:
- The date of maturity, or
- Specified dates at periodic intervals, or
- Unfortunate death, if it occurs earlier.
Types of Life Insurances
You can choose from different types of life insurance policies i.e.
- permanent life insurance
- term life insurance
- universal life insurance as per your insurance requirements
Among other things, the contract also provides for the payment of premium periodically
to the Corporation by the policyholder. Life insurance is universally acknowledged
to be an institution, which eliminates 'risk', substituting certainty for uncertainty
and comes to the timely aid of the family in the unfortunate event of death of the
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