To be or not to be? Life Assurance or Life Insurance? That is the question

    Life assurance and life insurance, which is it to be?

    Death is a regular part of our daily lives. Though unexpected, it still takes us by surprise.

    We still find it hard to fully accept yet it changes the lives of those who remain, forever.

    One of the ways it does this is financial. Most people don’t even think of life after death. Or how their death will affect their loved ones who remain behind.

    With funeral expenses and unexpected debts, the death of a loved one can leave those that remain financially overwhelmed.

    Life Assurance and Life Insurance? You need to decide

    Life assurance and life insurance

    There is a simple solution to this problem, Life Insurance and Life Assurance. A life insurance policy is a contract between an insurance company and the owner of the policy.

    The policy states that a specified beneficiary receives an agreed upon sum of money once the insured dies.

    The owner of the policy pays a certain amount of money, known as a premium, to the insurance company each month.

    After the death of the insured, the beneficiary receives a lump sum, either all at once or over a period.

    More about Life Assurance and Life Insurance policies

    A life assurance policy is not so different from a life insurance policy. Except for the fact that the death is restricted to a particular period.  The payout in a life assurance policy is not predetermined. Whereas premiums paid in a life insurance policy are determined at the beginning.

    Some people are not ‘insurable’ with life assurance, however, most people are qualified to take out a life insurance policy.

    Insurance costs are also very flexible, depending on a person’s mortality rate. Most companies allow payment of premiums in instalments. Therefore policy owners have time to pay off their premiums in full.

    The owner of the policy decides on most terms of the contract, apart from insurability. However, the insurance company can refuse to pay the beneficiaries if they find the insured’s death suspicious.

    In such cases, the insurance company will carry out its investigation into the death. And will only pay once these suspicions prove unfounded. This affects the life insurance policy more than it does the life assurance policy. Go online and get free Life Insurance quotes to find out more.

    More about Insurance Policies

    Insurance policies help to ease the burden of loss. Another advantage is the option of payment from the policy as an annuity. Whereby the beneficiary gets paid in installments over a period or throughout their lifetime.

    The payment ensures they are always taken care of and receive something now and then.

    The discretion of the policy is also an advantage, as only the owner of the policy, the insurer and the beneficiaries have to know about it.

    To get a FREE life insurance quote just fill in the form on this page

    Life insurance and life assurance is the way forward; it’s the best way of planning for an unpredictable future in the controllable present.

    Complete and submit the form on this page to receive your complimentary life cover quote