Types of Life Insurance Explained and How to Choose | Guardian
: Provides protection for a specific period (e.g., 10, 20, or 30 years). life insurance life assurance
: A death benefit is paid only if the insured passes away during the specified term. Types of Life Insurance Explained and How to
Life insurance and life assurance differ primarily in their and certainty of payout . While both are contracts between a policyholder and an insurer to provide a sum of money to beneficiaries, they serve different financial needs: Life Insurance vs. Life Assurance Life Insurance (Term Insurance) While both are contracts between a policyholder and
: Often used for temporary needs like covering a mortgage or replacing income during child-rearing years. Life Assurance (Whole of Life)
: Provides coverage for the entire lifetime of the insured, with no expiry date.