» What Is Life Insurance?
Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual's or individuals' death. According to the same contract the buyer of the policy has to pay a certain sum called a premium either at once or at regular intervals. As with most insurance policies, life insurance is a contract between the insurer and the policy owner (policyholder) whereby a benefit is paid to the designated Beneficiary (or Beneficiaries) if an insured event occurs which is covered by the policy. Insured events that may be covered include:
The death of the Insured.
Accidental death.
Insured’s sickness.
Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; for example claims relating to suicide (after 2 years suicide has to be paid in full)(in India after one year Suicide is covered), fraud, war, riot and civil commotion. Life based contracts tend to fall into two major categories:
Protection policies. This type of life insurance provides a payout in the case of a certain event. The buyer of this policy pays a certain some of money in regular periods of time. In fact in most cases it is a term life insurance. Investment policies - where the main objective is to facilitate the growth of capital by regular or single premiums.

» How To Choose An Insurance Company
Imagine you have already decided that a life insurance is what you need.What next? It is evident that you will try to find an insurance company that suits you most. In the modern market the choice is so wide that it is very difficult to choose an insurance company that really suits you. More than 2,000 companies in the United States sell life insurance. You can buy a life insurance directly from an insurance company or through agents. Before purchasing a policy, check the company's financial condition. The safest way to do it is to go to the state’s insurance department and to get all the necessary information. Also check with the state insurance department to be sure the company is licensed in your state.

» About Variable Insurance
With a Variable universal life insurance you are guaranteed a choice of death benefits and investment opportunities. It provides money for your family or other beneficiaries if you die, and money for you while you’re living. If you need a life insurance, have longer time frames to weather the market, want to control over where your money is located, can accept some risk then a Variable universal life insurance is for you.
Benefits:
After the first policy year you can control the payments yourself. If your needs and goals change you can increase, decrease or even stop premium payments.