Whats the difference between life assurance and life insurance?

Question

Whats the difference between life assurance and life insurance?

Answer 1

Insurance is for probabilities - ie, it's not certain that your house will be broken into.

Assurance is for certainties - like it or not, you will definitely die

Answer 2

Nowadays ... nothing really.

There used to be a tradition of separating life and property cover by one being insurance (the risk of something happening) and assurance (the fact that it WILL happen) but it is an old thing now and all cover is usually referred to as insurance.

xx VP

Answer 3

As per the other answer. Insurance is a policy against something that might happen. Assuarance is a policy against something that will happen. In reality, a life insurance is over a set period of time, i.e. a 25year term. Life Assurance will just be an ongoing contract until you die (often referred to as whole of life).

Answer 4

If you're refering to why some companies are XYZ Life Insurance and ABC Life Assurance.   They're pretty much interchangable.

Personally I think it's just a play on words since an assurance is a promise or guarantee. Some companies will use "guarantee" in their name.  I believe it's used more for marketing and to appear different.  But a life assurance company sells the same products as a life insurance company.