life insurance vs reinsurance

Question

Accepted Answer

Life insurance provides financial protection to beneficiaries upon the death of the policyholder, while reinsurance is insurance for insurance companies.

Life insurance pays out a lump sum to beneficiaries upon the death of the policyholder
Reinsurance is insurance for insurance companies, protecting them from large losses
Life insurance is typically purchased by individuals, while reinsurance is purchased by insurance companies
Life insurance policies can be term or permanent, while reinsurance contracts are typically long-term agreements
Examples of life insurance companies include MetLife and Prudential, while examples of reinsurance companies include Swiss Re and Munich Re

life insurance vs reinsurance

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