1.

Mention the differences between "Assurance" and "Insurance".

Answer»

Assurance : Assurance means the Insurer gives assurance to the Insured to pay the claim in any case , either on maturity or on death . This term is used only in Life Insurance Contract . 

Insurance : Here the Insurer only promises to secure the property in case of actual loss . This term is used for all other types of insurance . 



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