Difference Between Life Insurance and Life Assurance
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  • Parts 1
  • Time 18m
  • Reads 2
  • Votes 0
  • Parts 1
  • Time 18m
Ongoing, First published Feb 03, 2023
A life insurance plan is purchased for a fixed tenure (that can range between 5 years up to when the insured turns 100 years). The insured has to pay the premium for the plan. In return, the insurance company guarantees a lump sum payout to the nominee of the plan if the insured individual dies during the plan's tenure.
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