The term 'Assurance' refers to ___________
A)Life Insurance business
B)Fire insurance business
C)Motor Vehicle insurance
D)Marine insurance

Question

Quizplus · Accepted Answer

Assurance is a term often used specifically in the context of life insurance business, where the event insured against (death) is certain to occur, but the timing is uncertain. This contrasts with insurance, which typically refers to coverage for events that may or may not happen.

The Term 'Assurance' Refers to ___________