Types Of Life Assurance Flashcards
1
Q
An endowment policy
A
Has the most expensive premium. It pays out an agreed sum of money on an agreed date on an agreed date in the future
2
Q
What are the types of life assurance
A
Term policy
A whole life policy
An endowment policy
3
Q
Term policy
A
Money pays out if the insured person dies before an agreed date
3
Q
A whole life policy
A
The money pays out when the insured person dies
