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Life insurance pays a death benefit when the insured party dies and the money can be given to his or her friends, family or next of kin.

Non Life Insurance covers objects for theft or damages including home, property and cars.

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12y ago
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11y ago

The specific uses of the terms "insurance" and "assurance" are sometimes confused. In general, in jurisdictions where both terms are used, "insurance" refers to providing coverage for an event that might happen, while "assurance" is the provision of coverage for an event that is certain to happen.

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10y ago

An insurance premium is the amount of money paid on a periodic basis for insurance of a given kind. The kind of insurance involved does not alter the definition of the term "premium". Therefore, a life insurance premium is an incremental amount paid for life insurance, and a non-life insurance premium is an incremental amount paid for another kind of insurance.

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Q: What is the difference between life insurance premium and non life insurance premium?
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What is a single premium life insurance?

single premium life insurance: Single premium life insurance is a form of life insurance that's paid with one upfront lump-sum premium. Once you've purchased a single premium policy, you would receive a permanent death benefit that extends until you die.


How much is life ensurence?

That depends on a lot of factors, especially things that affect your expected life span. Your age, gender, health and lifestyle will all affect your premium. There is also a big difference between the cost for term insurance and whole life insurance.


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Usually the only difference between accidental death life insurance and regular life insurance is the name, although sometimes an accidental death life insurance will pay out more money if the death is accidental.


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What is the difference between life insurance and life assurance?

The terms are interchangeable.


Is there a difference between a life annuity and an insurance annuity?

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What is the difference between term and whole life insurance if there is any?

The difference between term life insurance and whole life insurance is that a term policy covers the insured for a "term of years" whereas a whole insurance policy covers the insured for the entire life period.


What is the difference between face amount and cash value?

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How does universal life insurance differ from other forms of life insurance?

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Can you purchase life insurance in a lump sum single payment?

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