Question

Why is the term "Assurance" used in the case of life insurance?

a.

Because the loss amount is assessed after the event

b.

Because it covers events that may or may not happen

c.

Because the timing of death is uncertain

d.

Because it is not used in India

Posted under IC38 Life Insurance Agent Exam

Answer: (c).Because the timing of death is uncertain Explanation:"Assurance" is used in the case of life insurance because the timing of death is uncertain.

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Q. Why is the term "Assurance" used in the case of life insurance?
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