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    ife assurance rather than life insurance. The difference is that insurance covers you for something that might happen while assurance covers you for something that will, assuredly, happen.

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    Life insurance is protection against financial loss in the event of the death of the insured person. Usually life insurance is taken out so that the bereaved family will have some money, perhaps when the main bread winner dies. However, it is possible to take out life insurance on a 3rd party if you can prove that you would suffer financially if that person died. For example, 2006 has been Queen Elizabeth II’s 80th birthday. Any company who produced items to celebrate that event, such as commemorative plates or silverware, would have suffered financially if the Queen had died before reaching 80 years.

    There are different types of life insurance - whole of life policies, term insurance and endowment policies. Now both whole of life and endowment policies are actually life assurance rather than life insurance. The difference is that insurance covers you for something that might happen while assurance covers you for something that will, assuredly, happen.

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    hen the main bread winner dies. However, it is possible to take out life insurance on a 3rd party if you can prove that you would suffer financially if that person died. For example, 2006 has been Queen Elizabeth II’s 80th birthday. Any company who produced items to celebrate that event, such as commemorative plates or silverware, would have suffered financially if the Queen had died before reaching 80 years.

    There are different types of life insurance - whole of life policies, term insurance and endowment policies. Now both whole of life and endowment policies are actually life assurance rather than life insurance. The difference is that insurance covers you for something that might happen while assurance covers you for something that will, assuredly, happen.

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    Queen Elizabeth II’s 80th birthday. Any company who produced items to celebrate that event, such as commemorative plates or silverware, would have suffered financially if the Queen had died before reaching 80 years.

    There are different types of life insurance - whole of life policies, term insurance and endowment policies. Now both whole of life and endowment policies are actually life assurance rather than life insurance. The difference is that insurance covers you for something that might happen while assurance covers you for something that will, assuredly, happen.

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    e reaching 80 years.

    There are different types of life insurance - whole of life policies, term insurance and endowment policies. Now both whole of life and endowment policies are actually life assurance rather than life insurance. The difference is that insurance covers you for something that might happen while assurance covers you for something that will, assuredly, happen.

    T

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    ife assurance rather than life insurance. The difference is that insurance covers you for something that might happen while assurance covers you for something that will, assuredly, happen.

    Term insurance covers you if you die during the policy term, which could be 6 months, 10 years or even 35 years. This kind of policy will pay nothing if you are still alive at the end of the term. Consequently the premiums are significantly lower than in the case of life assurance policies.

    Whole of life policies pay out on your death. The premiums are payable up until you die and then a previously determined sum is payable to your beneficiaries.

    Endowment policies are for a fixed term, usually 10 years or more. The premiums are payable throughout the term and are invested. At the end of the term the policy matures and the proceeds are payable to the policy holder. In the event that the policyholder dies before the end of the term then a guaranteed death benefit

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