An __________ company, or insurer, is a risk-sharing firm that assumes financial responsibility for losses from the insured in exchange for a fee.
Answer: insurance
There are two basic types of life insurance: term and cash value.
There are two basic types of life insurance: term and cash value.
Answer: true
Insurance should not be used to smooth out all the little bumps of life.
Insurance should not be used to smooth out all the little bumps of life.
Answer: true
A desirable health insurance plan should cover:
A desirable health insurance plan should cover:
Answer: At least 80% of out-of-hospital expenses and not impose any unreasonable exclusion
Health insurance should be part of very few people's overall risk management plan to safeguard their and their family's economic security.
Health insurance should be part of very few people's overall risk management plan to safeguard their and their family's economic security.
Answer: false
Insurance companies pay a lot of attention to the relationship between risk and cost.
Insurance companies pay a lot of attention to the relationship between risk and cost.
Answer: true
Unlike renter's insurance, homeowner's insurance covers personal property, provides liability protection, and pays for other expenses.
Unlike renter's insurance, homeowner's insurance covers personal property, provides liability protection, and pays for other expenses.
Answer: false
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