Insurance is the transfer of risk of loss from one entity to another in exchange for a payment. An individual (usually the principal breadwinner) uses a life insurance policy as a means to compensate the loss of his income to his family in case he has an untimely death. Insurance in India is sold with the disclaimer: insurance is a subject matter of solicitation. This means that an insurance cover needs to be asked for by the customer and not sold. An individual feels the need for an insurance cover and then finds an agent to sell him a product. Not unlike a loaf of bread—you feel the need to buy, you buy from a convenient location and pay a small sales commission embedded in the price of bread towards the work done by the retailer to make the bread available.