What you need to know About Life Insurance Policy or Life Assurance

Jez Pelio

Understanding a life insurance policy or life assurance is a written agreement between an insurance policy owner and insurance company, where the insurance provider promises to pay a specified amount of money (the advantage) in return for a premium, after the demise of an insurance owner covered by insurance company.

One other important to note by having a reliable financial plan is by safeguarding your fixed and current assets. And the only way you can achieve this, is for you to always keep your fixed and current assets with insurance comapny.

Having this on your mind, it will become easy to know which insurance policies will help you and protect not only your money but also your property.

I hope this information helps.

jhon paul

Active member
Life assurance is a type of life insurance that does not have term limit.Life assurance claims therefore tend to be made out no matter what age the policy holder is when they die but the payout is guaranteed.Most of life insurance policies are taken out set period of time or term. which usually last between five and 30 years.During the term of contract the policy holder pays a set amount of money and the premium will be each month once a year.In the event of their death their life insurance provider pay their dependents.A lump sum designed to cover the resulting loss of income.

You pay for life assurance in the same way you pay for any insurance policy by passing the pre agreed monthly premiums however the term length of life assurance is indefinite this premiums are much more expensive.