Life & Non-Life Insurance Market forecast 2024-2033
Life insurance is a type of insurance that provides financial protection to the policyholder’s family or beneficiaries in the event of their death. The policyholder pays regular premiums to the insurance company, and in return, the insurance company pays out a lump sum amount to the designated beneficiaries upon the policyholder’s death. This amount can be used to cover funeral expenses, pay off debts, or provide financial support to the policyholder’s family.