A typical example of an event covered by an Assurance Policy is

Source: JAMB · 2024

A typical example of an event covered by an Assurance Policy is

  1. accident
  2. burglary
  3. death ✓
  4. fire
Explanation

Assurance covers events that will definitely happen, like death. Insurance covers events that may happen.

Life assurance pays out when the person dies. This is certain to occur eventually.

Fire, theft, and accidents are uncertain events covered by insurance, not assurance.

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