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Which statement best describes the term insurance


Answer and Explanation: B. It is a protection that guarantees to pay you in the event of financial losses is correct because insurance companies aim to take back an individual to the financial position they were before the risk happened.

Which of the following terms best describes term life insurance?

The insured pays the premium until his or her death. The Correct Answer Is: b. The insured pays a premium for a specified number of years.

What is term insurance meaning?

Term Insurance is the simplest and purest form of life insurance. It provides financial protection to your family at the most affordable rates. With term insurance, you can get a large amount of life cover^ (i.e. sum assured) at a relatively low premium rate.

What is term life insurance?

A term life insurance policy is the simplest, purest form of life insurance: You pay a premium for a period of time – typically between 10 and 30 years – and if you die during that time a cash benefit is paid to your family (or anyone else you name as your beneficiary).

Which term is best defined by the following statement a policy in which an individual or entity receives financial protection or reimbursement against losses?

Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company.




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