What is a life assurance policy

What Is Life Insurance? Why Do You Need It? - Direct Line

Life insurance is a way to help protect your loved ones financially, if you were to die during the term of a policy. A good policy will also help your family deal with everyday money worries such as household bills and childcare costs. They will also be covered for mortgage repayments. Many people don’t like to think about this type of insurance, as it means thinking about the inevitable and a lot of the time it sounds more complicated than it really is. Why do I need life insurance? Life insurance is important for people with children, or a partner who relies on their income because of costs, such as a joint mortgage. If you’re in that situation, a life insurance policy could...

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What is the difference between assurance and insurance? - Quora

There is a thin line difference between assurance and insurance. Assurance and insurance have different meaning but people tend to use it interchangeably. When it comes to insurance, it is very important to know the meaning of every technical jargon so that there is no room for confusion. It refers to financial remuneration that will be offered for a covered event. It refers to coverage offered for a limited tenure. Let’s understand this with the help of an example: A term plan is offered for a fixed period of time. In case the policyholder passes away during the policy period, the death benefit is offered to the nominee. On the other hand, in case the policyholder survives the policy...

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