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Simple English definitions for legal terms
assurance
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A quick definition of assurance:
Assurance is when you feel confident and secure about something. It can be something that gives you confidence, like knowing you studied hard for a test. It can also be a promise or guarantee, like when someone promises to pay you back. In some cases, assurance can also refer to the transfer of property or the act of getting life insurance.
A more thorough explanation:
Definition: Assurance is something that gives confidence or security. It can also refer to the act of transferring property or a guarantee.
- She had self-assurance when she walked into the job interview.
- He obtained life assurance before traveling abroad, naming his wife as the beneficiary.
- The owner's assurance of the house was transferred to his daughter.
- The borrower provided adequate assurances of their ability to repay the loan.
The first example shows how assurance can refer to a feeling of confidence or security. The second example shows how assurance can refer to a type of insurance. The third example shows how assurance can refer to the act of transferring property. The fourth example shows how assurance can refer to a guarantee of repayment.
Assurance is important in many different areas of life, from personal confidence to financial security. It can help us feel more secure and confident in our decisions and actions.