​KembaraXtra – Legal Terms – Life Assurance


Life assurance is a form of insurance that provides for payment upon the occurrence of an event linked to a person’s life, most commonly death or the passage of a specified period.


Different types of life assurance exist, including whole-life policies, which pay out upon death, and term policies, which only pay if death occurs within a fixed period. Endowment policies combine both features by paying either on death or at the end of a set term.


This form of insurance is widely used for financial planning and protection. It ensures that beneficiaries receive a predetermined sum under the conditions set out in the policy.