MANAGEMENT

BUISENESS MANAGEMENT

RISK MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Life insurance typically becomes a higher priority for people as they enter their retirement years and their children marry and start lives of their own.
A
True
B
False
C
Either A or B
D
None of the above
Explanation: 

Detailed explanation-1: -Purpose of insurance Its aim is to reduce financial uncertainty and make accidental loss manageable. It does this substituting payment of a small, known fee-an insurance premium-to a professional insurer in exchange for the assumption of the risk a large loss, and a promise to pay in the event of such a loss.

Detailed explanation-2: -The primary purpose of life insurance is to protect family members of the insured from financial loss in the event of his or her untimely death. Life insurance proceeds paid to your heirs are not usually subject to state or federal income taxes.

Detailed explanation-3: -Hazard: Condition that increases the probability of loss.

Detailed explanation-4: -Most pure risks can be divided into three categories: personal risks that affect the income-earning power of the insured person, property risks, and liability risks that cover losses resulting from social interactions.

There is 1 question to complete.