Insurance provides financial protection against unexpected events or losses, such as accidents, illnesses, or property damage. It helps manage risk by covering costs that would otherwise be a financial burden, offering peace of mind and financial security.

A mutual fund is an investment vehicle that pools money from many investors to buy a diversified portfolio of stocks, bonds, or other securities. It allows individual investors to access a professionally managed investment strategy and diversify their holdings with relatively small amounts of money.

Term insurance is a type of life insurance that provides coverage for a specific period, or "term," such as 10, 20, or 30 years. If the insured person dies within that term, the policy pays a death benefit to the beneficiaries. If the term expires and the insured is still alive, no benefit is paid, and the policy typically ends.