Life insurance is a contract between an individual and an insurance company. In exchange for regular premium payments, the insurance company provides a lump-sum payment to designated beneficiaries upon the insured person's death.
It's a financial agreement between the insured individual (or policyholder) and the insurance company, where the insurer agrees to cover a portion of the insured person's healthcare costs in exchange for premium payments.
General insurance, also known as non-life insurance, is a type of insurance that provides financial protection for individuals and businesses against various risks or losses other than those related to life.