Life insurance is protection against financial losses in the context of uncertain life events and as such represents insurance of one's own life or the lives of others. Within this paper, we will focus on death insurance, mixed insurance, annuity insurance, tontine, but we will focus mostly on investment life insurance. Due to its specific legal nature, life insurance related to investment funds is undoubtedly one of the most interesting types of life insurance, especially since it incorporates life insurance and investment into one whole. In this way, investments are linked to the movement of the value of the share of the selected investment fund, and life insurance benefits are protected. In the case of insurance related to investment funds, the policyholder decides on the selection of investment funds and the distribution of funds among the funds and assumes the risk of investing in investment funds, ie personally affects the amount of the insured amount to experience. The insurance market in the Republic of Croatia is regulated by the Insurance Act, the Compulsory Transport Insurance Act and the related bylaws. This law regulates the competence and operations of the Croatian Financial Services Supervisory Agency (HANFA). Life insurance related to investment funds is also regulated by the Ordinance on the distribution of types of risk by groups and types of insurance as a type of insurance within the life insurance group, according to which the insured assumes the investment risk. Also, in addition to legal and legal offices in various parts of the Republic of Croatia, the paper also contains an overview of regulations and directives on investment life insurance at the level of the European Union. In order to gain insight into the conditions and characteristics of investment life insurance, we looked at one of the investment insurance products on the Croatian market and through this example is shown how a more active approach to life insurance is provided.