“Life insurance” and “life assurance” are often used as overlapping names for life cover. The name alone does not tell you when a policy pays or how long it lasts. What matters is the policy type, term, benefit and conditions.
Term life cover runs for a chosen period and is designed to pay after a valid death claim during that term. Whole-of-life cover is intended to continue for life, provided the required premiums are paid and the policy conditions are met. Premiums, exclusions and payment arrangements vary. MoneyHelper explains the main life-cover types, while the Association of British Insurers lists life insurance/assurance within protection insurance.
Before choosing cover, compare the policy wording, cover amount, term, affordability and who may receive a valid claim payment. Read our Life Insurance overview or contact IM-Insured about an adviser enquiry. An enquiry is not an instant quote or a policy purchase.
