ECONOMICS
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Buy baggage claim insurance
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Take his passport
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Buy flight insurance
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Buy medical insurance that covers him when he travels internationally
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Detailed explanation-1: -Which step will not provide protection during the trip? b. Take his passport (CORRECT ANSWER!)
Detailed explanation-2: -Premium. A policy’s premium is its price, typically expressed as a monthly cost. The premium is determined by the insurer based on your or your business’s risk profile, which may include creditworthiness.
Detailed explanation-3: -Types of life insurance explained. There are two primary categories of life insurance: term and permanent. Term life insurance lasts for a set timeframe (usually 10 to 30 years), making it a more affordable option, while permanent life insurance lasts your entire lifetime.
Detailed explanation-4: -A term life policy is exactly what the name implies: Coverage for a specific term or length of time, typically between 10 and 30 years. It is sometimes called “pure life insurance” because, unlike whole life insurance, there’s no cash value to the policy.
Detailed explanation-5: -Term life insurance has no cash value and is often referred to as providing pure protection.