Life Insurance is a risk policy against death. It involves two parties, the insured and the insurer. The insured transfers a risk to the insurer. In return, the insured receives a policy and pays a pre-determined amount of premium for a set amount of time.

There are two kinds of life insurance policies -- term life and permanent life. Further, permanent policies can be divided into whole, universal, limited-pay, endowment and accidental.

The kind of life insurance policies that is best suited varies from person to person. Purchasing life insurance is always recommended, but it is necessary to do some research about the various policies available to make sure you are getting the one that is bested suited for you. Over-insurance, unsuitable life insurance and various other problems have made life insurance policies a pretty risky purchase.

One of the best ways to make sure that you are getting the right policy is to select a well-qualified life insurance company. Every life insurance company has various policies that cater to people from all walks of life.

One should think about various factors before opting for life insurance like time, monthly budget, liquidity and need of risk coverage before taking on any life insurance policy.

Metropolitan Life Insurance Company, better known as MetLife is one of the oldest companies in the USA. MetLife is also one of the largest insurance companies in America.

The New York Life Insurance Company is another major player in the insurance market in the US. It was founded in 1841 under the name of Nautilus Insurance Company. It was renamed New York Live Insurance Company in 1845. It is the largest mutual life insurance company in the US.