Risk Management and Insurance > QUESTIONS & ANSWERS > Life insurance exam (2022/2023) Rated A+ (All)
Life insurance exam (2022/2023) Rated A+
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Life insurance exam (2022/2023) Rated A+ life insurance ✔✔insurance that pays to a named beneficiary or the deceased's estate upon the death of the insured,may b annuity or endowment, may incl ... benef for accident death/dismemberment, disability, protects against risk pf premature death which exposes a finNcial riskto family or business. ie:burial expenses, pay debts, loss of family inc/business profits insurance ✔✔content that indemnifies another against loss, damage, liab arising from unknown event indemnify ✔✔make a person whole by restoring that person to the same financial poistion that existed. 4 the loss insured ✔✔policy owner premium ✔✔set amount of money payable for policy/coverage insurance company ✔✔insurer policy ✔✔agreement insurer and insured, agreeement/contract loss ✔✔reduction in value and asset claim ✔✔demand for payment of insured benefit to person named in policy risk ✔✔uncertainty of financial loss when one or more outcome is possible. must be element of doubt and uncertainity pure risk ✔✔only a chance of loss, only pure risk is [Show More]
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