Life coverage (or life affirmation, particularly in the Commonwealth), is an agreement between a protection arrangement holder and a safety net provider , where the guarantor guarantees to pay an assigned recipient a total of cash (the advantage) in return for a premium, upon the passing of a safeguarded individual (frequently the approach holder). Contingent upon the agreement, different occasions, for example, terminal sickness or basic disease can likewise trigger installment. The strategy holder ordinarily pays a premium, either frequently or as one single amount. Different costs, (for example, memorial service costs) can likewise be incorporated into the advantages.

Life approaches are lawful contracts and the terms of the agreement portray the confinements of the guaranteed occasions. Particular rejections are regularly built into the agreement to restrict the risk of the backup
plan; normal cases are cases identifying with suicide, extortion, war, revolt, and common tumult.