Exactly. I agree.yatinchawla wrote:Assurance products always guarantees a single lump sum payment on the death of the policyholder.Abhinandan7 wrote:Term assurance can be both level or decreasing. In level, single lump sum is paid should the death happen within the term. For decreasing what I said earlier.
Variations are always possible in any financial structure. You can check the products of any company (LICI etc.) and your thought might differ.
You'll get to know more about all these in your actuarial journey latter.
The products that you are talking about are different variation of annuities and not assurance.
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