Definitions and terminology. Life assurance = An agreement between a life assurance company and a policyholder; in return for a payment (premium) from the policyholder, the company commits to pay someone or something (the beneficiary) upon the death of the person whose life is being covered (the life assured).
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Jan 25, 2024 · It's easy to confuse life insurance with life assurance, but what is the difference? In this guide we explain the key features of both.
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Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person. Depending on the contract, other events such... Wikipedia
May 23, 2023 · Both are forms of protection designed to pay out after the policyholder passes away – but they don't work the same way. The key difference is ...
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Life insurance is a contract in which an insurer, in exchange for a premium, guarantees payment to an insured's beneficiaries when the insured dies.
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