Life Protection Insurance

What does life-protection insurance mean?

A protection plan is a type of life insurance where the policyholder agrees to pay the insurer a predetermined amount in the event of an unfavorable event taking place during the policy's term.

The primary purpose of life protection insurance is to offer financial security to the policyholder's loved ones in the event of their death. In return, you agree to pay the insurance company's fees regularly in an amount set.