Solution:
Whole life, Endowment, Term, Investment-linked, Life annuity plan, Medical and health are the main products of life insurance. Motor insurance, Fire/House owners/Householders insurance, Personal accident insurance, Medical and health insurance, Travel insurance are the main products of general insurance.

Solution:
A convertible policy can be converted into another type of insurance policy at the same insurance company. Typically, convertible insurance deals with a level-term insurance policy that can be converted into a permanent/cash value policy that may be some form of whole life or universal life.

Solution:
Nuclear family system necessitates insurance as a form of security. Nuclear family system is a family structure that consists of two parents living with their children, also known as an immediate family.

Solution:
Minor is not eligible to enter into a contract. Minors are individuals who are under the age of 18. Minors are not considered to have legal capacity, meaning they do not have the ability to make contracts with other people. If a minor signs a contract, they have the ability to void the deal with certain exceptions.

Solution:
On health insurance, lifetime cover is mandatory.

Solution:
An endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death. Typical maturities are ten, fifteen or twenty years up to a certain age limit. Some policies also pay out in the case of critical illness.

Solution:
Variable Life Insurance is a kind of Whole life Insurance. Variable life insurance is a permanent life insurance policy with an investment component. The policy has a cash value account, which is invested in a number of sub-accounts available in the policy. A sub-account acts similar to a mutual fund, except it's only available within a variable life insurance policy.