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Related to life assurance: life insurance
(Insurance) a form of insurance providing for the payment of a specified sum to a named beneficiary on the death of the policyholder. Also called: life insurance
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|Noun||1.||life assurance - insurance paid to named beneficiaries when the insured person dies; "in England they call life insurance life assurance"|
insurance - promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company
endowment insurance - life insurance for a specified amount which is payable to the insured person at the expiration of a certain period of time or to a designated beneficiary immediately upon the death of the insured
tontine, tontine insurance - a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members