Insurance companies
Insurance companies have developed and array of life insurance products. In general. all the different policies fall into two major categories: savings or no savings. The policy that does not contain savings is know as " term insurance". With this policy the insurance company pays only in the event of the owner's death while the policy is still in force. The person insured will receive nothing if he discontinue premiums. Whole life policy had the feature of savings but usually has a higher premium than term insurance. the cost of purchasing a policy is influenced by age, sex, health, family history, death benefits, and so forth. The term or whole life insurance had the major function which is to protect those people who are dependant on the insured's income should the insurer dies pre-maturely