Life insurance & Life Assurance pay monies in line with the contract, it may be if we pass away if we are terminally ill, suffer a critical illness or cant not work.
The key difference between Life insurance & Life Assurance is the duration the protection supports the insured. What i mean by this is life Insurance always pays within the term - the key part here is "IN" again the protection pays if the claim is "in" the duration of the term.
Whilst Life Assurance (sometimes called whole of life insurance) always pays a claim and is NOT duration specific.
These structure of protection have big impacts on the premium or cost of the solution and its important to match this carefully to the family or business and their risks or needs. Therefore, giving the best cost effective solution but also the correct protection for them,
Golden Rock Solutions give free advice on the structure, which providers are relevant and what they protect (like which illness etc etc) This is obviously along with what these options costs. This is a Free of charge independent service please get in touch for more information
