Business Dictionary :
Assume, Assumption, Assure,
Assurance and Assurer
Assume : verb : to take
• To assume all risksAssumption
• He has assumed responsibility for marketing.
• Assumption of risks Assure
: to insure or to have a contract with a company where if regular payments are made, the company will pay compensation if you die
• To assure someone's lifeAssurance
• He has paid the premiums to have his wife's life assured.
• The life assured = the person whose life has been covered by the life assurance
: insurance or agreement that in return for regular payments, a company will pay compensation for loss of life
• Assurance CompanyAssurer
• Assurance policy
• Life assurance = insurance which pays a sum of money when someone dies
: insurer or company which insures NOTE
The terms Assure
are used in Britain for insurance policies relating to some thing which will certainly happen (such as death).
For other types of policies, they use the terms Insure
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