Describe the life insurance claim process and the amounts recoverable.

Life insurance — the insurer's promise to pay the sum assured on the insured's death (or survival to the term's end). The nature: the benefit contract — not the indemnity (the life's not measurable in money); the savings-and-protection blend (the premium's part payment, part investment); the long-term contract (the decades' duration — the policy's value faces). The scope: the individual life covers; the group life (the employer's schemes); the endowment's maturity faces; the riders (the accident-and-health additions); the annuity's faces (the pension forms — the old-age income).