Insurances are contracts by which an insurance company undertakes to pay a financial benefit in exchange for the payment of regular premiums by the insured. The purpose of insurance is to protect individuals and their families against the financial consequences of unforeseen events, such as illness, disability, job loss or death.

Life insurance is a contract that pays a sum of money to a designated beneficiary in the event of the death of the insured. This benefit can help protect the insured's family against the financial consequences of their death. Life insurance premiums can vary depending on factors such as age, gender, smoking status and medical history of the insured. Some insurance companies may require a medical exam before covering an individual.

Critical illness insurance pays a lump sum in the event of a diagnosis of a disease covered by the contract. This benefit can help cover costs associated with treating illness or taking time off to recuperate. Job loss and disability insurance provides a financial benefit in the event of involuntary job loss or disability that prevents the insured from working. These benefits can help cover day-to-day expenses, such as rent, bills, food, and medical care.