The contract is valid for payment of the insured amount during:
» The date of maturity, or
» Specified dates at periodic intervals, or
» Unfortunate death, if it occurs earlier. Among other things, the contract also provides for the payment of premium periodically By and large, life insurance is civilisation's partial solution to the problems caused by death. Life insurance, in short, is concerned
with two hazards that stand across the life-path of every person:
1.That of dying prematurely leaving a dependent family to fend for itself.
2.That of living till old age without visible means of support. to the Corporation by the policyholder. Life insurance is universally acknowledged to be an institution, which eliminates 'risk', substituting certainty for uncertainty and comes to the timely aid of the family in the unfortunate event of death of the breadwinner.
