Can You Explain The Different Between In Insurance And Assurance?

Both of these terms are not similar by meaning but have little bit similarities,
Well insurance is the bank terminology that means, people do an agreement with the bank about a particular thing or human, that at any case of loss bank will be responsible and will give the maintenance cost. It can be possible that insurance is of a human being or a product like car. In case of human, if that particular person has done his insurance then after his uncertain or certain death, his children will get the insurance money from the bank. That person submits some amount of money every month. It is just for the safe future of their children.
While in case of product or car insurance, if some accident happen and that car is insured then all the maintenance cost will be company or bank responsibility.
And Assurance is the term which is generally used as the security. It is a sort of refundable money which we give to someone. For example when we take admission in any institution then we give some money as a security that, I will stay in this institution. In some institutions there are some terms and conditions or time period for the security. When you leave that institution then you get that money back.

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