GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A generic term applying to all types of insurance indemnifying or reimbursing for losses caused by bodily injury or illness including related medical expenses is called ____
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Health Insurance
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Multi-Peril Insurance
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Key-Person Insurance
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Renewable Term Insurance
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Explanation:
Detailed explanation-1: -Liability insurance is the type of policy that protects the insured against financial liabilities resulting from injuries to any person as well as property damage.
Detailed explanation-2: -Indemnity is a guarantee to restore the insured to the position he or she was in before the uncertain incident that caused a loss for the insured. The insurer (provider) compensates the insured (policyholder).
Detailed explanation-3: -An insurance claim is a formal request to your insurance provider for reimbursement against losses covered under your insurance policy. Insurance is a financial agreement between you and your insurer.
There is 1 question to complete.