What is Life Insurance Policy?
In life insurance policy, the insurance company pays in case of demise of the policy holder or at the time of maturity of policy.
There are some exclusions in which case the insurer need not pay to the insured and they are previously mentioned in the contract that is signed at the time of buying the insurance. Such exclusions include suicide, war, riot etc. The insurance amount cannot be claimed in case of demise of insured caused by such exclusive events.