Get Insurance Quote Today

Find the Lowest Insurance Quote. Get the Lowest Insurance Rates. Get up to 5 Insurance Rates to Compare. Compare Insurance Coverage Plans. Pick the Insurance policy that is best for you. Pay the lowest price for the plan you choose.

Insurance vs. Assurance

Assurance, on the other hand, is not based upon the payment of premiums, but on the fact that all the premiums have already been paid. Assurance is better than insurance because we cannot default and thereby cancel the assurance. "Insurance " then can be likened to something we do, "Assurance" can be likened to something we have.

The specific uses of the term insurance and assurance are sometimes confused. The test of whether a policy is assurance or insurance is that with an assurance policy, the insured event will definitely occur, but no one knows when. In terms of insurance companies who offer an "assurance" policy, the distinction between the two terms has become largely blurred. As a consumer it is important that you understand the difference.

When you do understand the difference and buy an "assurance" plan, the level of assurance is important as well. Assurance services have been defined by the American Institute of Insurance as "Independent Professional Services that improve the quality of one's life or its context. Quality of life then is connected to assurance. Assurance is the bedrock upon which good decision-making is built. Without assurance, you cannot feel certain that the payments your family needs to survive after your death will be paid. Confidence, security and reliability is all part of a quality assurance plan.

Quality assurance is something that would be wonderful to have in every area of life. However, if we had to pay for it in actual dollars, (or whatever currency your country recognizes) we may not be able to afford it. To be assured that quality will be a part of your family's life, even after your death is something difficult to put a price tag on. Victor Charles said "The trouble with opportunity is that it's always more recognizable going than coming." It is the same with purchasing a quality assurance plan. There's also an old English proverb that says "Luck is what happens when preparation meets opportunity." Nothing can replace the preparation you and your family do to insure that you are properly taken care of in times needed most. Making sure that there is enough money to cover any and all bills remaining that would burden your family once your income was no longer available is important. Also, ensuring there will be enough for your survivor's to live on month-to-month is of major importance. Most feel that covering their own funeral expenses is enough of a lift of burdens off their family and friends?few think ahead to a life without themselves, or their loved ones.

Take some time to look over your current situation. Make sure that any and all life insurance policies are transferred out of your name within the three year time limit to avoid your family having to pay estate taxes on your earnings. Take the appropriate measures to secure a burial plot, a casket and suitable funeral arrangements so your family, in their grief, don't agonize over these details. Think with the mind of a survivor.