Saturday, May 7, 2011

LEARN ENGLISH

assurance
In life insurance, a technical distinction is made between assurance and insurance. Assurance is used of policies under whose terms a payment is guaranteed, either after a fixed term or on the death of the insured person; insurance is the general term, and is used in particular of policies under whose terms a payment would be made only in certain circumstances (e.g. accident or death within a limited period).