Is self-insurance the same as going without insurance? Why or why not?

Q: How does Life and Non Life Insurance can save or protect the assets of its policy holders? Cite at…

A: Life Insurance and Non-Life Insurance are the policies provided to the policyholders for protecting…

Q: Describe a private insurance. what is it? Discuss the primary strengths and advantages, and…

A: Private Insurance means an insurance plan which is not operated by the government. It comes under…

Q: How can you encourage people to join health insurance scheme

A: Health insurance scheme is the scheme which is taken by an insured person for the coverage of health…

Q: Pros and cons of long-term care insurance.   Discuss the pros and cons of long-term-care insurance.…

A: Long term care insurance: Long term care insurance means  an insurance that pays those costs that…

Q: What are your recommendations for Insurance companies ?

A: 1.lapsation benifit to all 2. Reasonable refundable value 3. Single expense ratio

Q: you will suggest to someone, which is better to have a life insurance or non life insurance? Why?

A: Life insurance is related to death benefits and non life insurance is related to physical assets…

Q: What is meant by the expression, “The policyholder gets the benefit of the doubt,” in connection…

A: All insurance policies favour the insured person if there is any doubt etc benefits of doubt is…

Q: Why insurance companies important for individuals?

A: A for-profit, non-profit, or government-owned firm that provides the promise to pay for particular…

Q: What is life insurance company?

A: Life insurance: Life insurance is an agreement among an insurance corporation (insurer) and an…

Q: How much life insurance does an individual need?

A: Meaning of life insurance:life insurance is nothing but a contract between insurance company and…

Q: What type of life insurance is the most appropriate when purchasing life insurance today? Explain

A: In life insurance is protection against death of persons for family behind So this is very important…

Q: What is the difference between life insurance and annuity?

A: Meaning:Life insurance is a cover on financial loss, and it is a contract between insurer and a…

Q: If you will suggest to someone, which is better to have a life insurance or non life insurance

A: Non-life insurance is also known as general, property, and casualty insurance. It's any insurance…

Q: What levels and kinds of risks are properly and mosteconomically passed on to insurance carriers?

A: Levels of risk are: High It involves a huge amount of risks involved that are needed to be insured…

Q: 2. What are the major factors involved in determining how much life insurance coverage a person or…

A: Life insurance is a contract in which an insurance company commits to pay a set sum following the…

Q: What type of life insurance policy would give you investment choice?

A: Unit linked insurance plans (ULIP) is life insurance plans that having hybrid characteristics. This…

Q: what is life insurance

A: Life insurance in the insurance of risk done by the policy holder that pays the amount to the policy…

Q: Which type of insurance has no cash value? Term life insurance Universal life insurance Variable…

A: Insurance refers to the concept of creating a policy to safeguard any sort of financial risk by…

Q: Name a peril that is often excluded from an home or auto insurance policy.  Why is the peril…

A: Peril means an event causing fire or theft or damage to assets like home, auto mobiles etc Peril…

Q: tell me why the use of reinsurance contributes to the solvency of the ceding insurer.

A: By ceding a portion of their risk, ceding companies reduce their overall risk exposure and…

Q: What are the differences between an insurance agent and an insurance broker? Discuss.

A: Insurance brokers are individuals that sells, buy or negotiate variety of financial products that…

Q: Which of the following is not one of the factors that affects automobile insurance premiums?

A: Automobile insurance is most common types of insurance. All factors related to vehicle will affect…

Q: What will making a prepayment for insurance have the effect of?

A: The insurance paid in advance means the expense has been paid but it is not due yet.

Q: What are the benefits of having third-party insurance?

A: When insurance is purchased for protection against claims of other persons, the insurance is called…

Q: Which of the following statements about prepaid insurance is true?

A: Prepaid insurance is a current asset which is created when the insurance paid comprises of a portion…

Q: What actions can a person take to reduce the cost of automobile insurance?

A: Automobile insurance is the instrument that is used to cover the losses or harm to vehicles that…

Q: What were your feelings about your need for life insurance before you read this chapter? What are…

A: Insurance is a means of mitigating risk. When you buy insurance, you are purchasing protection…

Q: How does renter’s insurance differ from other home insurance policies?

A: Insurance is a contract between the company and the individual for protecting the specific assets…

Q: Do risk influence people to go for insurance? What is the relationship between risk and insurance?

A: Yes, risk influences people to go for insurance. Several kinds of risks influence a person to get…

Q: Why are people often willing to pay more for insurance than the expected valueof the coverage?

A: Insurance coverage is the amount of risk covered for an individual which are assured by insurance…

Q: Why do we need FDIC insurance?

A: Insurance companies and agencies adopt financial strategies to manage various types of risks.…

Q: Please give and explain the numerical example of adverse selection that arises in life insurance…

A: In Insurance adverse selection refers to situations in which an insurance company extends insurance…

Q: Which is not a factor that will usually affect your auto insurance premium?

A: The amount of money paid for the insurance policy taken is called the insurance premium. It is the…