What type of insurance provides payout upon death or after a certain period?

Life insurance is designed specifically to provide a financial payout to beneficiaries upon the death of the insured individual, or after a predetermined period if it is a type of policy that matures or accumulates cash value. This financial support can help cover living expenses, debts, and other financial needs for the beneficiaries after the policyholder's death.

In contrast, health insurance primarily covers medical expenses related to illness or injury during a person's lifetime, and does not provide payout upon death. Disability insurance offers income replacement in the event the policyholder cannot work due to a disability, while auto insurance covers damages and liabilities associated with vehicle accidents, without any payout related to death in the same way life insurance does. Thus, life insurance stands out as the type of insurance that is explicitly linked to providing financial support after the policyholder's death or at the end of a specified term.