Life Insuranse vs. Life Assurance
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Many people think that “Life Insuranse” and “Life Assurance” correspond to this same products, it is this same name of insuranse. This thinking is wrong, moreover many financial commentators can’t discern this products, and they are wrong too. Life Insuranse and Life Assurance have various financial roles roles.
Life Insuranse provides insurance for a specific period of time, when policy is finished hasn’t any value. If person, policy holder, die the company pays money. If this person survive to the end of the life insuranse term, the policy is finished.
Life Assurance is a mix of insurance and investment. You can cash it in the company, but most people get a better price for their policy by selling it to a investment broker. If policy holder die during a Life Assurance policy’s term, company will pays out policy. If the policy holder are living when the Life Assurance policy terminates he get a bigger payout, because is awarded an additional terminal bonus.
2 Responses to “Life Insuranse vs. Life Assurance”
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October 28th, 2007 at 3:29 pm
Thanks for informations. Many people thought that life Insuranse ans life assurance is this same product.
November 30th, 2007 at 8:22 pm
Life insuranse is also knowned as term insuranse. So, the advantage of this solution is that you can set the term for your policy up to the number of years until your children become financially independent.