Where is the difference between insurance and assurance?

Answer 1

Example:

Life Insurance has been defined by dictionary.com as an ‘Insurance that guarantees a specific sum of money to a designated beneficiary upon the death of the insured or to the insured if he or she lives beyond a certain age.’

But Life Assurance on the other hand is different. Life Assurance is a hybrid combination of insurance and investment. A ‘Life Assurance policy’ pays out a sum of money equal to the higher of either a minimum underwritten by the policy’s insurance clause or its investment valuation. Thus, making the value of your investment reliant on the insurance company’s performance with respect to investment and growth.

Answer 2

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 3

Assurance is French for insurance, therefore in English the terms are interchangable. I guess some companies want to add an exotic flare to their name ;-).