This thesis focuses on life insurance, namely on one type of life insurance, the credit user insurance in the case of death. The focus is on detailed presentation of life insurance, including a brief history, types and the criterias for classifying life insurance. It also touches on the legal sources which contributed to the regulation of insurance. Within the framework of material and legal norms, general and special insurance conditions are extremely important. The parties to the contract have been thoroughly elaborated, especially their obligations that bind them on the basis of the concluded contract. The legal system of each country has specific laws that regulate these issues and although there are differences in individual legal systems, the basic legal systems are similar. The life insurance policy and all her specifics are presented in detail. A life insurance policy is an aleatory type of contract where one party gives something valued to the other party in exchange for a conditional promise. However, if the policy's risk expires before the death of the insured, the insurance will never be paid out, regardless of whether all premiums have been paid. The analysis of life insurance policy in the case of the death of the credit user, when concluding the loan agreement between the beneficiary and the insurance company, comes to the conclusion that, in addition to protecting the insurance company from the risk of outstanding obligations, it also plays a significant role as a financial protector of the family, after possible death of the insured. The simplest way to collect the balance of the main debt after the death of the insured is through the life insurance policy concluded with insurance companies. Through examples of insurance companies are shown the conditions when concluding the risk insurance. Also, cooperation with banks when concluding a death contract, or bank insurance, was discussed. With enough innovation, flexibility and readiness for changes in the work model, bancassurance has significant growth potential in the future.