Finance and Credit Professional

Life Insurance or Life Assurance is a form of insurance that provides a payment of a sum of money to a named beneficiary upon the death of the policyholder or to the policyholder if still living after reaching a specified age. The terms 'insurance' and 'assurance' are often interchanged but there meanings are different.Insurance [...]

The first distinction to make is between Life Insurance and Life Assurance. Although these terms are often used interchangeably there is a difference: Insurance generally refers to an event that might happen whereas assurance refers to something that will happen.Using this definition Life Insurance would generally cover accidental death whereas Life Assurance would cover for [...]