We live in a world of uncertainty. There are natural and man-made disasters, road and other accidents, and a long list of factors which result in injury to a person or loss of life. Nobody knows when that happens. These are unavoidable. What is avoidable? You can secure yourself and your near and dear ones financially. When you buy a Life Insurance policy, you are financially securing the unknown future. Life Insurance pays out a sum of money to the insured person after a set period (called Term). Life Insurance policy also pays out a sum of money to the nominee in the event of death of the insured person.