Life insurance provides a stated benefit linked to an insured person's death or survival under the chosen product. Term life insurance focuses on death protection, while endowment insurance and whole life insurance have different duration or savings features. Benefits remain subject to the contract's conditions and exclusions.
For a Nepalese household, the main planning question is how dependants would manage lost income and outstanding debt. Compare guaranteed benefits, premium commitments, nominee arrangements, and surrender terms. Illustrations containing future bonus assumptions should be distinguished from benefits the insurer contractually guarantees.