Commerce JAMB

The major difference between insurance and assurance is that while insurance?

A. takes care of uncertainty, assurance takes care of risks
B. takes care of risks, assurance takes care of uncertainty
C. hinges on probabilities, assurance is based on possibilities
D. is about indemnity, assurance is about life in the future

Correct Answer:

Option C – hinges on probabilities, assurance is based on possibilities

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