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Definition

Assurance

Assurance is an agreement that in return for regular payments, a company will pay compensation for loss of life, or will make a payment if the insured person lives to a certain age. Also called life assurance, life insurance

Webster Dictionary Meaning

1. Assurance
- The act of assuring; a declaration tending to inspire full confidence; that which is designed to give confidence.
- The state of being assured; firm persuasion; full confidence or trust; freedom from doubt; certainty.
- Firmness of mind; undoubting, steadiness; intrepidity; courage; confidence; self-reliance.
- Excess of boldness; impudence; audacity; as, his assurance is intolerable.
- Betrothal; affiance.
- Insurance; a contract for the payment of a sum on occasion of a certain event, as loss or death.
- Any written or other legal evidence of the conveyance of property; a conveyance; a deed.
Category: Economics
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