Why would an insurance company want people to avoid risk, like Nick…
Question Answered step-by-step Why would an insurance company want people to avoid risk, like Nick… Why would an insurance company want people to avoid risk, like Nick Cannon having to avoid skydiving?What is the primary reason people buy insurance?Explain why the Code of Hammurabi is considered the first written form of insurance.Summarize how guilds were similar to modern-day insurance.How did Blaise Pascal’s and Pierre de Fermat’s introduction of probability change insurance?Why do underwriters consider the applicant’s age and physical characteristics, such as height and weight, heart rate, and blood pressure, for life and health insurance7. People often buy insurance to transfer ________________.A. risk B. copayment C. coverage D. money8. Which of the following is the term for the money people pay when they buy insurance? A. Copayment B. Coverage C. Premium(s) D. Deductible 9. For most types of insurance, the company does not pay 100 percent of the loss. For instance, health insurance often requires a ________________ for office visits. A. premium B. beneficiary C. term insurance D. copayment 10. In the event of a claim on an auto or home policy, the payment is generally reduced by the amount of the ________________. A. copayment B. deductible C. risk D. coverage 11. Life insurance doesn’t require a deductible from the person(s) designated to receive the money, also known as the ________________. A. agent B. insured C. policyholder D. beneficiary 12. Permanent life insurance lasts until age 100 and never expires, but term insurance is for a set time period. A. False B. True 13. Explain what BI 100/300 PD100 means. **List what each of the following policy sections pays for** 14. Liability15. Comprehensive16. Collision17. Complete the following sentences with the correct combination:The ________________ the potential for loss, the higher the premium. The higher the deductible, the________________ the premium. A. higher, lower B. lower, higher C. lower, lower D. higher, higher Accounting Business Financial Accounting FIN 3861 Share QuestionEmailCopy link Comments (0)
