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Joint life assurance |
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Joint 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.Similar MatchesLife assuranceLife assuranceAn insurance policy that pays a lump sum on death. Often taken out with a mortgage to provide money for the loan to be repaid if the borrower dies during the term. 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. 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. BancassuranceBancassuranceA combination of banking and insurance business. A high street bank, for example, might sell both mortgages and the life insurance policies that must go with them. Also applies to pension sales by banks. Decreasing term assuranceDecreasing term assuranceLife insurance in which the death benefit decreases over the term of the policy although the premiums remain fixed. Further Suggestionsindustrial life assurancecontingent assurance term assurance unit linked whole of life assurance index linked family income assurance Decreasing term assurance index linked term assurance unit linked life assurance Level term assurance family income benefit (family income assurance) renewable term assurance unit linked endowment assurance life assurance premium relief endowment assurance |
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