Life insurance policy

A life insurance policy is a form of insurance that protects against life risks such as premature death, incapacity for work or poverty in old age. Life insurance can cover the insured person either for a limited period (term life insurance) or for the rest of their life (permanent life insurance). Another type is incapacity for work and disability insurance that results in payments if the insured person can no longer work. Policies often combine aspects of term and pure life insurance.