What type of insurance primarily involves long-term risk cover?

Life insurance primarily involves long-term risk cover because it is designed to provide financial protection to beneficiaries after the policyholder's death. This type of insurance usually has policies that last for many years, often until the insured reaches a certain age or passes away, making it a long-term financial commitment.

Life insurance is fundamentally different from other insurance types that are typically more immediate and shorter-term in nature. For example, health insurance often covers medical expenses, which can vary greatly over a shorter period and typically operates on annual renewals. Non-life insurance and property insurance, on the other hand, generally focus on protecting against risks associated with specific assets or liabilities over a more immediate time frame, like accidents, damages, or theft.

Thus, life insurance stands out for its long-term focus, providing coverage and peace of mind regarding one's financial planning and protection for loved ones over an extended period.