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One of the main branches of insurance is life insurance. It is a comparatively recent type of insurance. Life insurance is different from all other branches of insurance. In case of insurance there is no "all that the insured may face the risk against which he has been insured. The risk may never occur. But in the case of life assurance, the risk is certain to occur sooner or later. The only uncertainty is the time of the occurrences. There are two types of life assurance: endowment and whole lifeassurance.Endowment assurance is provided for a special number of years or until the attainmentof a certain age. The sum of a self-assured is paid either at the agreed time or on the death of the self-assured.Whole life is less popular. The premiums must be paid to the assuror until the death of the insured.Tor endowment Premiums and whole lifeassurance are paid quarterly or annually.Industrial assurance is a branch of life assurance. Industrial assurance policies are usually for small amounts. The arecollected weekly premiums by the company's agents.The largest life assurance company in Great Britain is the Prudential Assurance Co., established in 1845. Besides all kinds of life assurance, the Prudential Assurance Company undertakes many types of insurance.
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