Insurance Answers

Which is always a cost when buying insurance?

Insurance is a financial service that allows a

What must happen in order for an insurance company to make a payout? Check all that apply. The insurance company must verify the claim.The insured party must file a claim.The insured party must purchase property.The insurance policy must be in place.The insured party must experience a covered loss.

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

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?

The basic purpose of insurance is to provide

Roland has purchased a new tablet. How can he reduce the risk of damage or misuse? Choose three correct answers.by using a screen protectorby letting his toddler play with itby using an antivirus appby using a protective caseby letting his friends borrow it

In what way does a deductible help an insurance company?

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.

When an insurance company needs to provide a payout, the money is removed from