Life insurance covers accidents related to events in a person's life. There are two types: for death and for living longer. Insurers pay a sum of money or annuity installments. Originally seen as unethical, life insurance is now widely accepted and beneficial. It helps protect against risks like death and disability, while also serving as a way to save and invest. In Serbia, it is regulated by laws but not widely used. In the 1990s, it declined but is now seeing a revival, though less common than in other developed countries.