Which insurance type specifically addresses risks related to an individual's life?

Life insurance specifically addresses risks related to an individual's life by providing financial protection to beneficiaries in the event of the policyholder's death. Its primary focus is on the life of the insured and can serve various purposes, including income replacement, debt repayment, and funding for future obligations such as education or retirement for dependents.

This type of insurance can also include living benefits that may provide a payout in certain situations, such as terminal illness, emphasizing its direct connection to life and mortality. In contrast, health insurance covers medical expenses associated with illnesses or injuries, property insurance protects physical assets from damage or loss, and liability insurance protects individuals or businesses from legal claims for damages caused to others. While all these types of insurance play essential roles in risk management, life insurance is uniquely designed to address life-related risks, making it the appropriate choice for this question.