Online Life Insurance

Different between in Insurance and Assurance: - The words insurance and assurance are not similar but these are often used interchangeably. Some writers on this subject have tried to draw distinction between these two terms.

It is maintained by some writers that the term insurance should be applied to those contracts where the insured amount is payable on the occurring of specific event which may or may not arise during the particular period. As sea perils (Marine insurance) or property damage by fire (Fire insurance) or risk of theft and robbery (Theft insurance and robbery insurance respectively) If no such destruction or damage takes place nothing becomes payable to the insured. Read more