.....is the economic device whereby the individual or business pays a cost (premium) in exchange for protection against financial loss.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

____is the economic device whereby the individual or business pays a cost (premium) in exchange for protection against financial loss.

A	Coverage
B	Insured
C	Endorsement
D	Insurance

Explanation:

Detailed explanation-1: -The amount you pay for your health insurance every month. In addition to your premium, you usually have to pay other costs for your health care, including a deductible, copayments, and coinsurance. If you have a Marketplace health plan, you may be able to lower your costs with a premium tax credit.

Detailed explanation-2: -Then we examine in greater detail the three most important types of insurance: property, liability, and life.

Detailed explanation-3: -Different types of general insurance include motor insurance, health insurance, travel insurance, and home insurance.

Detailed explanation-4: -A life insurance premium is the payment you make as your portion of the cost of an insurance policy. You can usually pay your life insurance premium monthly, quarterly, semi-annually, or annually.

There is 1 question to complete.