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    Life insurance as a risk mitigation element provides protection against casualties in life. The history of life insurance began with providing coverage for a particular period of time, and if the insured died during the period, the beneficiary got the death benefit. The disadvantage was t
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    urance began with providing coverage for a particular period of time, and if the insured died during the period, the beneficiary got the death benefit. The disadvantage was
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    beneficiary got the death benefit. The disadvantage was that the period was limited, which led to the innovation of new products that gave death protection coverage for the entire life of the individual.

    In term insurance, the premium increases during the time, as the chances of de

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