Life Assurance (Noun)
Meaning
Insurance paid to named beneficiaries when the insured person dies; "in England they call life insurance life assurance".
Classification
Nouns denoting possession and transfer of possession.
Examples
- Purchasing a life assurance policy can provide financial security for your loved ones in the event of your passing.
- UK residents typically prefer term life assurance policies due to their affordability and flexibility.
- The payout from a life assurance policy can be used to cover funeral expenses and settle outstanding debts.
- Overseas workers with UK connections often choose life assurance companies that cater to international clients.
- Some investment plans may include a life assurance component as part of their overall package.