life assurance or insurance

life assurance or insurance
life assurance or insurance
a contractual arrangement under which, in return for a stipulated premium, a life assurance company undertakes to pay, on the death of the life assured or on the occurrence of such other events as may be agreed, a specified sum of money.

Collins dictionary of law. . 2001.

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  • life assurance — or insurance a contractual arrangement under which, in return for a stipulated premium, a life assurance company undertakes to pay, on the death of the life assured or on the occurrence of such other events as may be agreed, a specified sum of… …   Law dictionary

  • life assurance — ➔ assurance * * * life assurance UK US noun [U] UK INSURANCE ► LIFE INSURANCE(Cf. ↑life insurance) …   Financial and business terms

  • Life assurance — Life Life (l[imac]f), n.; pl. {Lives} (l[imac]vz). [AS. l[imac]f; akin to D. lijf body, G. leib body, MHG. l[imac]p life, body, OHG. l[imac]b life, Icel. l[imac]f, life, body, Sw. lif, Dan. liv, and E. live, v. [root]119. See {Live}, and cf.… …   The Collaborative International Dictionary of English

  • Life assurance premium relief — (LAPR) is a United Kingdom taxation rule.It is a tax break that may apply to life assurance policies that provide for a capital sum to be paid on death, where the policy commenced prior to 14 March 1984. It is due in respect of premiums payable… …   Wikipedia

  • life assurance — noun insurance paid to named beneficiaries when the insured person dies in England they call life insurance life assurance • Syn: ↑life insurance • Hypernyms: ↑insurance • Hyponyms: ↑endowment insurance, ↑tontine, ↑ …   Useful english dictionary

  • Life Assurance Act 1774 — The Life Assurance Act 1774 (14 Geo. 3 c.48, also known as the Gambling Act 1774 [ Halsbury s Laws , vol.44(1) (reissue), Statutes , para 1268.] [Long title: An Act for regulating Insurances upon Lives, and for prohibiting all such Insurances… …   Wikipedia

  • life assurance — An insurance policy that pays a specified amount of money on the death of the life assured or, in the case of an endowment assurance policy, on the death of the life assured or at the end of an agreed period, whichever is the earlier. Life… …   Big dictionary of business and management

  • life assurance — N UNCOUNT Life assurance is the same as life insurance. [BRIT] ...a life assurance policy …   English dictionary

  • life assurance — An insurance policy that pays a specified amount of money on the death of the life assured or, in the case of an endowment assurance policy, on the death of the life assured or at the end of an agreed period, whichever is the earlier. Life… …   Accounting dictionary

  • keyman life assurance — (keyman life assurance/keyman insurance) Also known as key person insurance or business life insurance. A life assurance policy taken out in respect of a key executive which provides the company with a cash cushion in the event of the death of… …   Law dictionary

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