We all need insurance
While there is no cost to a human life, relatives and loved ones of a late person can get some respite and much needed support through the life insurance coverage of the person. Here, the insurer pays a fixed amount of insurance at the time of death of the insured or when the fixed period of the insurance coverage expires.
So, someone can get their life insurance while they are still alive. Currently, life insurance enjoys maximum scope because human life is the most important property of an individual. Life insurance protects the bereaved especially at a premature death as the funds are given to the next of kin outlined by the insured. Also, it serves as a form of investment where the returns at an old age when earning capacities are reduced and the time span of the insurance coverage expires.