Insurance

Question 1

In what circumstance would a property insurance claim be rejected?

Revolt · Accepted Answer

The insurance company finds that a homeowner intentionally caused damage.

Question 2

Under which circumstance would someone need disability insurance?

Revolt · Accepted Answer

A person was in a car accident and cannot work for several months.

Question 3

sharemoveavoidreplace

Revolt · Accepted Answer

share

Question 4

Insurance companies create a pool of funds to handle ______

Revolt · Accepted Answer

risk

Question 5

Most people prefer to pay health insurance premiums rather than pay out-of-pocket for medical expenses because

Revolt · Accepted Answer

medical costs can be extremely high, and insurance is more affordable than paying out-of-pocket for a hospital stay.

Question 6

Why does insurance often provide "peace of mind"?

Revolt · Accepted Answer

People are less worried when they know they have protection from risk.

Question 7

An entrepreneur keeps backup funds in a savings account so that if their business experiences a loss, they will be able to recuperate. What type of risk management is this an example of?

Revolt · Accepted Answer

reducing risk.

Question 8

Maria's family has a health insurance plan. Her mother has $350 deducted from her paychecks each month.When Maria visited the doctor, her mother paid a $25 fee. The insurance company covered the rest of the cost of the visit.When Maria's mother went to the hospital, her family was responsible for paying the first $1,000 of the bill. After this payment, the insurance company covered the rest of the costs.

Revolt · Accepted Answer

co-payment

Question 9

Which type of insurance policy would someone get to protect others only?

Revolt · Accepted Answer

life insurance

Insurance Answers

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