Life assurance - An 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.
Life assurance : an 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.
Life assurance