Life insurance is a contract between an individual (the policyholder) and an insurance company, where the insurer agrees to pay a designated beneficiary a sum of money upon the death of the insured person. In exchange, the policyholder pays regular premiums to the insurance company.

Health insurance is a type of insurance coverage that pays for medical and surgical expenses incurred by the insured. It can also cover prescription drugs, dental expenses, and other healthcare-related costs, depending on the policy. Health insurance helps to protect individuals from high or unexpected health issues