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Index linked family income assurance |
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Index linked family income assuranceFamily income assurance in which the assured may, if he or she chooses, increase premiums in line with the retail price index and hence increase the sum assured.Similar MatchesFamily income benefit (family income assurance)Family income benefit (family income assurance)A type of term assurance in which, following the death of the life assured, instalments, rather than a lump sum, are paid to the beneficiary for the remainder of the policy term. If the life assured lives to the end of the term, no benefit is payable. Joint life assuranceJoint life assuranceAn assurance policy usually taken out on two lives, typically husband and wife. Under this type of policy, the sum assured is payable at the event of the first death. Life assuranceLife assuranceAn insurance policy which, in return for the payment of regular premiums, pays a lump sum on the death of the insured. In the case of policies limited to investments which have a cash value, in addition to life cover, a savings element provides benefits which are payable before death. In the UK endowment assurance provides life cover or a maturity value after a specified term, whichever is the sooner. AssuranceAssuranceIn the UK the term 'assurance' tends to be used where insurance is taken out against something which will inevitably occur, an example being death and thus life assurance. The term 'insurance' is used when insuring against an event which may occur such as damage to a motor vehicle. Decreasing term assuranceDecreasing term assuranceLife insurance in which the death benefit decreases over the term of the policy although the premiums remain fixed. Further Suggestionsrenewable term assuranceendowment assurance term assurance unit linked endowment assurance life assurance premium relief bancassurance contingent assurance unit linked whole of life assurance Level term assurance industrial life assurance Decreasing term assurance unit linked life assurance index linked term assurance Life assurance |
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