Why insurance is called assurance?
What is the Meaning of Assurance? The term assurance is used in the insurance industry that to in terms of life and term insurance policies. In a life insurance policy, the policyholder is given assurance that he will receive compensation in case of a certain event like death or disability.
What is the difference between assured and insured?
To assure someone is to remove someone's doubts. To ensure something is to make sure it happens—to guarantee it. To insure something or someone is to cover it with an insurance policy.
What does assured mean in insurance?
Assured is used to refer to a person who is protected by insurance coverage against any loss or damage mentioned in the insurance policy purchased form an insurance company or an underwriter.
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