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Question: The term 'Assurance' refers to ___________.


  1.  Life Insurance business
  2.  Fire insurance business
  3.  Motor Vehicle insurance
  4.  Marine insurance

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1 Answer

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1. Life Insurance business

The term 'Assurance' refers to Life Insurance business.

More information:

Life Insurance is a contract between an insurer and a policy owner, where life insurance guarantees the insurer pays a sum of money in case of unfortunate death of insured.

'Assurance' refers to Life Insurance business.

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