ECONOMICS (CBSE/UGC NET)

ECONOMICS

INSURANCE

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which type of insurance protects against loss due to death?
A
Life
B
Health
C
Disability
D
Long-Term Care
Explanation: 

Detailed explanation-1: -Life insurance will help provide financially for your survivors. Health insurance protects you from catastrophic bills in case of a serious accident or illness.

Detailed explanation-2: -Life Insurance Coverage Life insurance is designed to provide a measure of financial security for your loved ones if you pass away. These policies allow you to name a primary beneficiary and one or more contingent beneficiaries to receive a death benefit should you pass away.

Detailed explanation-3: -Jump to a section to learn more about each type of life insurance: Term life insurance. Whole life insurance (permanent) Universal life insurance (permanent)

Detailed explanation-4: -Term insurance plans are life insurance plans which promise to pay a benefit only if the insured dies during the term of the policy. There is, usually, no maturity benefit payable under the plan. Term plans are, therefore, called pure protection plans.

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