Life insurance companies are financial institutions that provide life insurance policies to individuals and groups. These policies offer financial protection to the policyholder’s beneficiaries in the event of the policyholder’s death.
Life insurance companies play a crucial role in society by providing financial security to families and businesses. They help individuals and families plan for the future and protect their loved ones from financial hardship in the event of an untimely death. Life insurance companies also invest the premiums they collect in various assets, which helps drive economic growth and development.