Life insurance market in Italy - statistics & facts
Life insurance is a contract between an insurance provider and the policy holder which consists of financial protection for the beneficiary in case of death of the insured person. Generally, the policy holder pays periodic amounts of money (premiums) for the duration of the policy, and, upon death, the insurance company pays a specific sum of money (benefit) to the designated beneficiary. The insurance policy can also cover other expenses related to mortgages, burial and funeral.
