Assurance is different from insurance in that the former is based on?

By: |Published on: Dec 13|Categories: Commerce JAMB| 0 comments

A. probability
B. possibility
C. risk
D. uncertainty

Correct Answer:

Option B – possibility

Explanation

Assurance is similar to insurance, with the terms often used interchangeably. However, insurance refers to coverage over a limited time, whereas assurance applies to persistent coverage for extended periods or until death.

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