Introduced by Russell Taylor.
Insurance - this is protection against something that might happen. Four years ago your house cost £3,000. Today it could cost £4,000 to replace if burned down. Have you increased your insurance proportionately each year?
Assurance - this is protection against something that will happen, old age and death. What are the differences between Whole Life Assurance, Term Assurance and Endowment Assurance? What do they cost and what protection do they supply?
A BBC Educational Broadcast