Term life insurance, which pays out nothing if you live beyond the term, is like other insurance: it is only worth buying to protect against some specific risk (e.g. mortgage payments) consequent on an early death.
Life assurance is different, in that the event insured against is certain to happen. That is why it is called assurance: assuredly, you will die. As such, it is primarily an investment, together with an insurance component that guarantees a payout even if you die prematurely. As an investment, you can put as much as you like into it, but if your heirs will not be financially stricken if you die early, you—or rather, they—do not need the insurance part.
Term life insurance, which pays out nothing if you live beyond the term, is like other insurance: it is only worth buying to protect against some specific risk (e.g. mortgage payments) consequent on an early death.
Life assurance is different, in that the event insured against is certain to happen. That is why it is called assurance: assuredly, you will die. As such, it is primarily an investment, together with an insurance component that guarantees a payout even if you die prematurely. As an investment, you can put as much as you like into it, but if your heirs will not be financially stricken if you die early, you—or rather, they—do not need the insurance part.