Question

insurance/assurance​

Answer 1

Answer:

Assurance is similar to insurance, with the terms often used interchangeably. However, insurance refers to coverage over a limited time, whereas assurance applies to persistent coverage for extended periods or until death. Assurance may also apply to validation services provided by accountants and other professionals.

Assurance is something which is 'assured' (or guaranteed) to happen, in this case when you pass away. A life assurance plan therefore pays out 'when' you die, rather than 'if' you die. Insurance is based on something which might happen (again you passing away), during a specific time period (or term).

Answer 2

1) insurance is an contract which is the presented by a policy in which an individual or entity gets financial protection for reimbursement of the losses

2) Assurance is a positive declaration intended to give confidence or our promise