Life Assurance Companies: Assuring Your Family's Future

2008-10-27 11:28:45

( Insurance )



LIFE ASSURANCE VS LIFE INSURANCE

Planning for your future can seem like a burden when you are young. But our departure from this life will cannot be predicted. You may live a good life to a ripe old age or you could pass away tomorrow. If the worst happens to you where would that leave your family? Would your family be financially secure for the rest of their life? That is why life assurance policies from trusted life assurance companies are important.

Most people are confused on the difference of life insurance policies and life assurance policies.

Life insurance covers for an event that might happen but no certainty that will happen. Examples of these events are fire, theft and flood. While life assurance policies cover for event that is certain to happen, like death. Death is the one thing that all of us can count on happening at some time.

Life assurance refers to the contract under which life assurance companies agreed to pay out an assured amount of money upon the policy holder's death.

There are two types of life assurance policies that life assurance companies offer: level term assurance policy and decreasing term assurance policy. The difference is level term assurance policy payout remains the same throughout the term. Whereas, decreasing term assurance policy payout drops gradually until the end of the term.

ASSURANCE FOR YOUR FAMILY

The primary motivation for purchasing assurance policy from life assurance companies is to insure that your loved ones are cared for in the event of your death.

Most people with family would be horrified by the thought of their untimely death, leaving their family with hefty bills to pay and a sudden decline in their standard of living. Life assurance guarantees your family an agreed amount of money from the life assurance companies.

With an assurance policy, life assurance companies will provide you with peace of mind that your family will be looked after in the event of your death. So don’t just go for the cheapest policy. Get the best assurance policy you can afford from life assurance companies you trust.


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