Question

what is the difference between the insurance and assurance

Answer 1

The following points describe the differences between insurance and assurance: A contract, which provides cover for an event that can happen but not necessarily, like flood, theft, fire, etc. is known as insurance. A provision for coverage of an event, whose happening is certain, such as death, is called assurance.

Answer 2

Insurance provides financial coverages for unforeseen circumstances surrounding an event such as fire, theif, or flooding. Assurance provides coverage for events that will occur, sach as daeth.