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Life Assurance Life Assurance. Many people confuse life assurance with life insurance; this is easily done, not least because of the similar spelling, but also because the products are similar in themselves. However, they are not the same thing.

Difference between Life Assurance and Life Insurance
In a nutshell, the difference between life insurance and life assurance is that assurance is, in part, an investment product, while insurance is not.

Life Insurance: Life insurance - much like car insurance - is only going to pay out in the event of the insured person's death. If the insurance policy expires before the person's death then nothing happens; there is no payment made to the life insurance policyholder, and the person hopefully carries on living. Similarly, much like car insurance, life insurance is purchased for some pre-determined amount of time, and remains in effect while the insurance premiums are paid. In other words, a life insurance policy has no value except in the circumstance that the policy is claimed upon.

Life Assurance: Life assurance policies can be considered a combination of an insurance product and an investment product. The value of the investment portion of the product should increase over the years, as annual bonuses are added by the assurance company and, as any other investment might grow, by the companies investment performance. Additionally, there is often an extra bonus added, called a terminal bonus at the end of the term. Nonetheless, like an insurance policy, should the policyholder die, the assurance policy can be claimed upon. An assurance policy will pay either a guaranteed minimum sum or the value of the accumulated investment bonuses - whichever is the higher of the two. However, if - as you may hope - the policy expires while you are still alive, you will usually recieve a larger payment.

As you might imagine, life insurance costs much less than life assurance, and, in general, life insurance tends to be the more popular of the products. However, depending on one's circumstances, both types of product can provide useful benefits. Most companies that provide life insurance also provide life assurance, and vice-versa.

AA Life Insurance

The AA (Automobile Association)
AA Life Insurance, provided by Legal & General, is designed to financially protect your family if you die during the term of your policy. As a starting point, you should think about how much cover your family would need to maintain the family home and their lifestyle if you were not around, what monthly premiums you can afford and how long you need the cover to last.
AA Life Insurance Details of AA Life Insurance

Liverpool Victoria 50 Plus Life Insurance

Liverpool Victoria
There are lots of things that people like to put off until another day, a more convenient time, or when they have a bit more spare change, and life insurance often seems to top the list of things that can wait for a while longer. Of course, unfortunately, it often turns out that they waited too late, and their families are then sometimes left with a huge financial mess to sort out. However, it's usually not too late to begin purchasing life insurance, and the Liverpool Victoria 50 Plus Life Insurance product is specifically designed, as you can probably guess, for those aged over 50.
Liverpool Victoria 50 Plus Life Insurance Details of Liverpool Victoria 50 Plus Life Insurance

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