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Insurance or Assurance?

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Stav | 10:52 Thu 07th Nov 2002 | How it Works
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Is the correct term Life Insurance or Life Assurance? WHat is the difference between the two?
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Avatar Image Al Brown
Life Assurance is a policy where you keeping paying premiums until you die, your beneficiaries are assured a payout. Life Insurance is a policy for a fixed term, eg Mortgage Protection, where hopefully you survive but don't get any return.
11:41 Sat 18th Oct 2003

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