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Life assurance |
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Life 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.Life 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.Similar MatchesJoint 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. Unit linked endowment assuranceUnit linked endowment assuranceSee: 'endowment assurance'. Unit linked life assuranceUnit linked life assuranceSee : 'unit linked policy'. Renewable term assuranceRenewable term assuranceTerm life insurance with a term of, for example, three years, at the end of which the policy can be renewed for a further three years and similarly thereafter for an overall specified length of time. Unit linked whole of life assuranceUnit linked whole of life assuranceSee: 'whole life assurance'. Further Suggestionsdecreasing term assuranceLevel term assurance endowment assurance life assurance premium relief index linked family income assurance bancassurance term assurance assurance index linked term assurance family income benefit (family income assurance) Decreasing term assurance industrial life assurance contingent assurance |
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