Life insurance pays out a set amount of money when a person who is insured died. My Auntie who is now 83 yrs old has one like this. She kept on telling us about the benefits of being a member of a life insurance company. She was never been married and being lonely in her house without kids is a sad experience however, as her nephews and nieces we treat her like a real mother.

Most elderly people like my Auntie are member of any life insurance company since they know life is short for them. Even some young professional are enrolled because death is uncertain.