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life insurance or assurance?
mol82
Posts: 8 Forumite
hello
can someone please clarify to me the difference between life insurance and assurance. i don mean to come across stupid or slow but im really having trouble working it out. im trying to get the best life insur or assur cover. im currently paying a morgage, so i want the one that will pay me a lumpsum/month when im not able to go work( due to sickness etc) so can still able to pay my bills. i have heard of a partcular one that pays you back a sam of money if don make any claims for certain numbers of years but i cant remmember the name. anybody with any ideas or ever heard of one like this? please help. thanks
can someone please clarify to me the difference between life insurance and assurance. i don mean to come across stupid or slow but im really having trouble working it out. im trying to get the best life insur or assur cover. im currently paying a morgage, so i want the one that will pay me a lumpsum/month when im not able to go work( due to sickness etc) so can still able to pay my bills. i have heard of a partcular one that pays you back a sam of money if don make any claims for certain numbers of years but i cant remmember the name. anybody with any ideas or ever heard of one like this? please help. thanks
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Comments
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life insurance is the incorrect term. Life assurance is the correct name.have heard of a partcular one that pays you back a sam of money if don make any claims for certain numbers of years but i cant remmember the name.
Low cost endowment.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
insurance is insuring against something that might happen i.e. being burgled.
Assurance is insuring something that will happen i.e. death.0 -
Thanks very much for your help everyone:T0
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Well that answered my question!
I've wondered that for years!!0 -
So, you live on a flood plain in the 30 year flood zone. Do you buy flood assurance against the certainty that the property will be flooded or flood insurance against the chance that it will happen during the term of the policy? Flood and death are certain but neither is certain to happen during the policy unless it's for the life of the insured person or building.0
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