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Life assurance provides insurance cover to your life. Life assurance policy guarantees to pay assured money on the death of the insured person. The policyholder agrees with pay certain amount as premium on monthly, quarterly, or yearly basis. These insurance policies are generally for long term or for life.

When you buy a life assurance policy, you are insured for your unexpected death. The insured amount of policy money is paid at the maturity of the insurance policy or at the death of the insured. Many different types insurance covers are available to secure your life against any unforeseen illness or death. Life assurance should not be mistaken to be a contract of indemnity.

When you proceed to buy a life assurance cover, you should disclose all your medical facts to the insurer. The relationship between the insurer and the insured should be in utmost good faith.

Life assurance policy secures the future of your family after your death. If you do not die with in the term of the policy, you get the insured policy amount at the maturity of the life assurance policy. If you happen to die before the maturity of the policy, you family will be paid the insured sum. You can secure your family's financial future after your death.

During the tenure of your life assurance policy, you can take loan against your policy. However, if you fail to repay the loan amount, the maturity amount will be reduced to the extent of loan amount. It also applies to policy mount payout on the death of the insured.

Life assurance policy differs from the term life insurance policy. In term life you will paid the insured money only if you die with in the term period. If you survive the term period, you will not be paid any money. However, in life assurance policy, if you survive the term period of the policy, you will be paid the insured money on the maturity date.

Life assurance policies are expensive and you need to pay the premiums through out your life. However, the benefit is that the pay out of insured money on the event of death is tax-free. The rate of premium is calculated by considering factors like age, gender, medical history, lifestyle, and habits.

Life assurance premiums will be more if you are in high-risk occupation. The high-risk occupations are oil and refineries, aviation or armed forces. If you regularly participate in activities like mountain climbing, motor sport, parachuting, or skiing where there is more threat to life, you will be charged more premiums.

You can choose the maximum extent of life insurance cover you need depending on your needs, life style, mortgages, and debts.

You can extend the coverage of your life policy for critical illness and accident. Before going for the policy, you are required to undergo medical examination. If the result is positive, you are issued cover with normal premium. However, if your result is otherwise, you may be denied the insurance cover or asked to pay extra premium.

Different insurance providers offer life assurance policies with distinct features. You need to research the market and choose the cover that suits best for your needs and requirements. If you need any clarifications, you can approach the advisor, who can help you. You have to decide for yourself how much insurance cover you need and to what extent of premiums you can afford.

Do not get attracted to the offers advertised by the insurers. Get into the depth of the offers; compare the different quotes from different insurers. Before going for any offer you need to keep in mind that the cover is for your life and it should be able to help your family survive after your death.

Time of death is uncertain. No one can expect the time of death. Life assurance policies secure the life of your family after your premature death. You can be free from the thoughts of what will happen to your family after your death. Life assurance policy takes care of that concern of yours.

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