Question

In most markets, including India, how are the terms "Insurance" and "Assurance" commonly used?

a.

They are used interchangeably

b.

"Insurance" is used for general contracts, and "Assurance" for life contracts

c.

"Assurance" is the preferred term for all types of contracts

d.

They are not used in the insurance industry

Posted under IC38 Life Insurance Agent Exam

Answer: (a).They are used interchangeably Explanation:In most markets, including India, the terms "Insurance" and "Assurance" are used interchangeably.

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Q. In most markets, including India, how are the terms "Insurance" and "Assurance" commonly used?
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