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Life Assurance
ASSURANCE is different from INSURANCE because it is to do with life instead of possessions. Life assurance is a monthly amount paid by someone so that when they die, a certain amount of money will be paid over to the family.
It is not a good idea for someone to cash in their life assurance while they are still alive. If they do this, then the amount that they will be paid will be very small compared to what they contributed every month. The longer the policy continues, the more money will be paid out.
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