life assurance

/laɪf əˌʃʊrəns/

Other forms: life assurances

Definitions of life assurance

1. noun

   insurance paid to named beneficiaries when the insured person dies
   “in England they call life insurance life assurance”

   synonyms: life insurance

   types:

   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

   ordinary life insurance, straight life insurance, whole life insurance

   insurance on the life of the insured for a fixed amount at a definite premium that is paid each year in the same amount during the entire lifetime of the insured

   type of:

   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