common types of insurance

Question 1

Life

Answer 1

Insureanc is designed to pretect against the risk of premature death

Question 2

Health

Answer 2

Designed to pretect against the severity of financial loss due to illness, disease, short or long term disability, wages lost while ill or disabled, and medical expenses

Question 3

Annuities

Answer 3

protect against the risk of living longer than expected

Question 4

Property

Answer 4

insurance protects against the risk of damage and destruction to all types of property

Question 5

Casualty

Answer 5

protects risk of leagal liability for injury, death, disablilty, damage and destruction to property

Question 6

Credit

Answer 6

protects risk that a person in debt, termed debtor, cannot repay the debt to the creditor because of accident, sickness, disabilty or death

Question 7

Variable

Answer 7

consists of variable life and variable annuities