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In definition, a life insurance is a contract between a certain individual and an insurance company. Based on this agreement the insurance company will pay the stated sum of money in case the insurance policy holder dies. On the other hand, the insurance policy holder agrees to pay the insurance premium on a regular basis.

In definition, a life insurance is a contract between a certain individual and an insurance company. Based on this agreement the insurance company will pay the stated sum of money in case the insurance policy holder dies. On the other hand, the insurance policy holder agrees to pay the insurance premium on a regular basis.