Life insurance
This is intended as a very brief introduction to this subject. First of all a life insurance policy is a contract between the insured and the insurer. In English law there are five basic requirements for a contract which are as follows,
- Offer and acceptance;
- Consideration;
- Capacity to contract;
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No one can predict about uncertainties in life. But people can take precautions to cope with any critical situation that may arise at any point of time in anybody’s life. That is why people seek for life insurance policy to get themselves protected form any severe situation that probably comes without any prior indication. There are plenty life insurance policies available in the market. It is very hectic to visit to many places to understand the terms and conditions of the policy. But now people can opt for online life insurance in an easier and convenient manner.
Online life insurance policies can be accessible in two forms, whole life insurance and term life insurance. Whole life insurance means that the whole life of insured's acquires coverage.