Chapter 1- Market Factors And Trends In Financial Protection Planning Flashcards
1
Q
When mitigating personal risk, how is it best to categorise risks
A
Based in the severity of impact and likelihood
2
Q
What sort of severity/impact risk are best to insure against
A
Low frequency, high impact
3
Q
What are the main drivers of sales of insurance products
A
Affordability
Housing market
I come per head and other economic factors
Whether they have dependents
4
Q
How do you calculate the protection gap
A
Resource needed-cover in place
5
Q
How does inflation effect sales of life insurance
A
Negative impact
6
Q
What is the definition of morbidity
A
Relative incidence of a particular disease
