What is assurance health insurance

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What kind of insurance is assurance?

Assurance is an arrangement in which an insurer pays reimbursement for a specified occurrence, such as death. Assurance policies provide continuous coverage until the policyholder's death. For example, a whole life insurance policy provides financial protection for the rest of the policyholder's life.

What is the difference between insurance & assurance?

The term "insurance" refers to the process of compensating for a loss, for instance, losses sustained due to an accident, fire, theft, flood, and so on. Providing monetary support for a particular scenario is referred to as assurance. A severe disease, death, or disability, for example.

What does assurance cover?

Assurance refers to financial coverage that provides remuneration for an event that is certain to happen. Unlike insurance, which covers hazards over a specific policy term, assurance is permanent coverage over extended periods, often up to the insured's death such as with whole life insurance.

Is assurance a real company?

It was acquired by Prudential in 2019 and is now a wholly owned subsidiary of Prudential Financial. Assurance IQ generally uses the name Assurance for marketing purposes. The company is based in Seattle, Washington, and sells policies through its website and independent sales agents.