Definition of Guarantee of Association?

Answer

Guarantee of association is a business word that is used when an insurance firm covers financial obligations of the insured. This happens when the person becomes insolvent. It falls under life insurance covers and lasts until the contract period expires or when the insured dies.
Q&A Related to "Definition of Guarantee of Association?"
An organization of life insurance companies within a state responsible for covering the financial obligations of a member company that becomes insolvent.
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guarantee: give surety or assume responsibility; make certain of; promise to do or accomplish; stand behind and guarantee the quality, accuracy, or condition of; a written assurance
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There are many. Electronic Retailers Association. Executive Recruiters association. European Rental Association. and the list goes on.
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