So-called insurance protection provides coverage to a certain person in a situation, time and place. This proctection is confirmed when the insurance provider accepts a prospective customer's application. The insurance policy lists details and conditions for each instance of insurance coverage. If the insurance holder ceases to pay premiums before contract expiry, he will no longer receive protection either in part or in whole according to conditions regulating that particular kind of insurance. As opposed to most other types of insurance, life insurance is applicable worldwide irrespective of where the insured event occurred. This is why one often refers to "worldwide policies".