Life Insurance is protection for you and your family. You can buy a policy from a life insurance company which will pay a predetermined sum on your death within a specified time. It is designed to provide that additional financial support to those who need it after your death. It can also be combined with a savings or retirement plan which will pay a lump sum if you die within a specified period or if you survive to the end. Life insurance offers valuable financial protection in the event of your early death to family members dependent on your earnings. But it may also be a means of saving. This combination of protection and saving makes life insurance unlike any other financial product. Some policies protect, some help you tosave and some do both.