Is Life Insurance The Same As Health Insurance? 
Life insurance pays another person , who is called the `` beneficiary '' , when the insured person dies . Health insurance pays for the health care of the insured person himself . So unless life insurance has living benefits that will pay money directly to the insured person in certain situations , life insurance is mainly taken out for the welfare of someone else who would suffer financially upon the death of the insured person . Health insurance is taken out for the welfare of the insured person himself . 