Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is the difference between life insurance and life assurance?

April 26, 2017assurance difference life Life Insurance

0

Posted

What is the difference between life insurance and life assurance?

1 Answer

0

Posted

In short Insurance covers the death with a pay out but has no cash-in value. Assurance has an investment element and will provide a pay out at the end even if the policy holder is still alive. Assurance also has a cash-in value although penalties for early cash-in usually apply.