Assurance

{
  "id": "MLC-T-INS-000481",
  "term": "Assurance",
  "field": "Insurance and risk management",
  "definition": "A type of insurance coverage that provides a payment upon the occurrence of a specified event that is certain to happen, such as death. The term is most frequently used in the context of life insurance products, where it is interchangeable with insurance. Historically, assurance applied to certain events like death, while insurance applied to contingent events like fire or theft.",
  "url": "https://mlchart.com/terminology/insurance/assurance/"
}