Understanding Business
11th Edition
ISBN: 9780078023163
Author: William G Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
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Chapter D.4, Problem 5TP
Summary Introduction
To determine: The life insurance that is recommended for most people in the society.
Introduction: Life insurance refers to the policy to insure an individual with a certain sum of money either at the time of death of the individual to the family members or after a certain definite
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Students have asked these similar questions
Does every worker or consumer need life insurance? Why or why not?
Is life insurance a necessity, or is it a luxury? What considerations should an individual evaluate before purchasing life insurance? How might these considerations change when spouses and children are brought into the analysis?
who are potential customers for insurance?
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Similar questions
- How would you advise someone in their 20's, 40's and 60's to use insurance? If your advice differs based on their age, what factors do you consider important in making changes to personal risk management?arrow_forwardIf you want to purchase health insurance for yourself in the near future, what type of plan would you choose, and why? What steps can you take to keep your health costs down?arrow_forwardcan you give me at least 5 questions related to insurance? For example: What type of insurance do you have?arrow_forward
- how large is insurance target market?arrow_forwardWhy is an insurable interest required in every insurance contract?arrow_forwardWhat is the relationship between risk management and insurance management? In your answer you should demonstrate an understanding of the difference between the two fieldsarrow_forward
- Explain the disadvantages of using insurance in a risk management program.arrow_forwardSuppose that yours is a typical family. Your annual income is $73,500. Using the easy method, what should be your need for life insurance?arrow_forwardThe insurance policy of insurance companies has changed recently. What is the major change?arrow_forward
- What is the definition of “indemnity” insurance? Why do you suppose it has largely been replaced by managed care? What are the three main types of managed care organizations? What are the pros and cons of each type?arrow_forwardDifferentiate Takaful from conventional insurance and discuss its significance and features?arrow_forward3. For what reasons are life insurance policies bought by business firms?arrow_forward
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