Insurance Vs Investment Contract. Liabilities connected with insurance include investment contracts measured at fvpl, and liabilities that arise because the insurer issues, or fulfils obligations arising from, these contracts (such as deferred tax liabilities arising on its insurance contracts). To be clear, the vast majority of life insurance is purchased for risk management.
It can be considered as an investment. Life insurance as an investment in estate planning. The premium amount which is received is not the investment in other investment avenues to generate the bonus.