What is the difference between Insurance & Assurance?

Answer 1

The two have become interchangeable and the original definitions no longer apply. Even the insurance company names reflect the confusion.

Answer 2

Difference Between Insurance And Assurance

Answer 3

Assurance:
1. The act of assuring.
2. A statement or indication that inspires confidence; a guarantee or pledge: gave her assurance that the plan would succeed.
3. Freedom from doubt; certainty: set sail in the assurance of favorable winds. See Synonyms at certainty.
4. Self-confidence. See Synonyms at confidence.
5. Excessive self-confidence; presumption.
6. Chiefly British. Insurance, especially life insurance.

Insurance:
1.
a) The act, business, or system of insuring.
b) The state of being insured.
c) A means of being insured.
2.
a) Coverage by a contract binding a party to indemnify another against specified loss in return for premiums paid.
b) The sum or rate for which such a contract insures something.
c) The periodic premium paid for this coverage.
3. A protective measure: biking helmets that provide insurance against a head injury.

Answer 4

Insurance

Protection against possible hazard. You can buy insurance against an event which may or may not happen, such as a burglary, an illness, loss of property or a legal liability. 'General insurance' policies can cover a residence, its contents, commercial property, vehicles, livestock or crops against specified events, including natural disasters. They can also cover the expenses of accidents or sickness, loss of income or contractual costs such as the forfeiture of travel tickets through cancellation. Any form of insurance entails the payment of a sum (premium) to the insurer; this is often split into regular instalments. It is important to read the small print in an insurance policy carefully for details of specific coverage, exemptions and liability limits. Insurance on people's lives is usually referred to as life assurance

Assurance

The term commonly used in connection with life policies, which do not depend on a possibility, as does insurance, but on a certainty - either death or reaching a certain age. The two terms have become interchangeable in the context of life policies (as evidenced by the Life insurance Act 1945).

Answer 5

insurance is like for your car or house or whatever so that u are covered in case of an accident so that u don't have to pay the damages all at once so it's not so overwhelming. ASSURANCE is when someone gives u the OK on something or when u feel for sure that something is OK

Answer 6

I will make as If I didn't saw that...
insurence= like life insurence, assurance is like in you lol
( look it up in a dictionary)

Answer 7

Yer kidding right? (cksq)

Answer 8

wow. how old r u?!