Life Assurance Plans

Night Train

Maker of Things
I remember seeing a discussion where it was argued that 'Life Assurance' should pay out in the definite event of a life occurring. 'Life Insurance' may pay out in the possibility of a life occurring.
'Death Insurance' may pay out in the possibility of death occurring and 'Death Assurance' should pay out in the definite event of a death occurring.

This is on the basis of 'Insurance' being for things that might happen and 'Assurance' is for things that will happen.

I don't have any 'death assurance'.
 

srw

It's a bit more complicated than that...
Here comes the boring bit...
It's not an investment plan, it's whole-of-life insurance, designed to pay out when you die. It's frequently used to ensure that your relatives don't have to find the cash for a funeral. Some people will pay in more than they get out, some won't - that's what insurance is all about.

The one-year delay until cover is granted is simply because they guarantee acceptance, without medicals. It stops people with a couple of months to live taking out the insurance and means that the insurance company can control its risk exposure.

Incidentally, the advert (and the freebie pen) is an almost exact clone of the good old Cornhill Senior Security plan adverts with Peter Purves - Cornhill Life shut its doors about 10 years ago so that the company could concentrate on non-life insurance.
 

Nihal

Veteran
Is that an assurance you can insure against?
Say,if youre sure the Devil's phonenumber is exactly 666,feel free to call,else,if it was you're ex's,then i would rather not......................<thinks to self that self has gone crazy>:wacko:
 
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