Life Insurance Leads Kent Washington WA

Reader’s Question:

I’d like to ask, what is the difference between Insurance and Assurance under the circumstance of life insurance policy here in Kent, Washington?

Jordan

Kent, WA

Commonly, in law courts, insurance refers to the provision of cover for an event that could happen. Assurance on the other hand, refers to the provision of cover for an event that is bound to happen.

In other countries however, the term for both words are sometimes confused and in some, the definition for both words are all termed as insurance.

Let’s take death as an example. Some people insure their life in Kent, WA, with the knowledge that one day they will die. So they will go for a policy that assures to make a payment. That policy offers assurance upon the death of the holder so it is an assurance policy.

Insurance policy can be seen as let’s say in the event of an accident where the holder dies, the death policy is not assured to pay on death as the holder may live after passing through the accident, making it fall under an insurance policy.

Simply put, with assurance policy the insured event will definitely happen some point in time, while with an insurance policy, there lies a risk that the insured event will happen.

There are existing companies in the U.S. nowadays that offers both policies, you can inquire through a local insurer in Kent, WA to help you further with these policies.

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