In life insurance policy one need pay premiums every year which in return is paid back in large lump - sum amount in case of demise of the insured person. (policybazaar.com)
Death benefit is paid as the total sum assured amount to the nominee of the policy in case of uncertain demise of the insured person of the policy. (policybazaar.com)
A personal accident insurance plan protects the individual and his or her family members in the event of the unfortunate demise of the insured or if there is a serious accident or injury. (policybazaar.com)