Life Insurance + Life Assurance

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4 Terms

1
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What is life Insurance?.

A plan which is paid monthly or annually which an insurer agrees to settle almost any type of personal debt - credit card, mortgage etc in the event of the bill-payer passing away, in the form of a lump sum.

2
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What is Life assurance?.

A lifelong plan which builds equity over time, with a guaranteed payout more focused on inheritance and legacy building, rather than covering personal costs

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