What is life insurance and types of life insurance?

Life insurance is a policy people take out to ensure that their family receives a pre decided amount in the event of sudden death or loss of income.Life insurance is means protection and security under financial crisis.There
are mainly 5 types of Life insurance policy. Term insurance is the most basic one. If something happens to you,your nominee will be paid a lump sum amount, and ensures that your family can live with the same standard of
living as before.In Endowment policy, a periodic sum is received as premium every month and a lump sum amount in case of sudden death.There are many other insurance policies like Money Back Life Insurance Policy,Group Life Insurance and Unit Linked Insurance Plan that can benefit you. Many insurance companies like Max Life Insurance ,icici prulife offers best insurance policies.