What is the difference between life insurance and life assurance ? Page 2

The distinction between the two terms has become increasingly blurred. This is principally due to many

Hot Topics

If my life insurance policy is “Rated”, what does this mean?: If your policy is “rated” it means that the insurance company believes you represent an above average risk of a claim.
Can Life Insurance be arranged quickly?: It is dependent upon two factors: - Click here to find out more details
What is Whole of Life?: A Whole of Life Assurance policy has no predetermined termination date and it will continue in force until the policyholder dies or they surrender the policy.
Are there any fees or extra costs to pay?: If you are purchasing life insurance through our product partner, Life Policies Direct, then there will are no fees or other costs to pay

companies offering both types of policy and grouping insurance and assurance titles in similar contexts, sometimes interchanging the two terms. Richard Brown, Chief Executive of Moneynet.co.uk, clarified the situation by stating, "most life insurance companies offer a wide range of insurance and investment services - for example pension, investment funds, investment bonds, car insurance, home & contents insurance, life assurance, and even loans. Sometimes a 'life insurance' company will call itself a 'life assurance' company but they mean one and the same."

More companies within the financial ( loans ) services industry have realised that consumers are becoming increasingly baffled by the choice of financial products available. Although this confusion has resulted in a certain amount of apathy, many firms are resolving the situation by providing comprehensive information guides. This has lead to an increase in the number of the online financial guides and glossaries that have become available.

Sites such as Moneynet , Moneyfacts, and MoneyExtra not only provide comparisons of financial products, but also information to help consumers make informed decisions. With ( life insurance quotes ) organisations like Which? writing publications such as 'Be Your Own Financial Adviser', the focus has turned to providing consumers with sufficient information to make their own financial judgements.