Why Life Insurance
What is full of unexpected events?
Life
Some people practice ____ avoidance, as a way to avoid risk altogether.
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Risk
________ Term- Families with young children or those with mortgages benefit from this policy.
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Decreasing
________ has value because in the case of an emergency such as a fire.
(Fill in the Blank)
Insurance
Risk assumption: is a way of managing risk where you simply bear the risk of ____.
(Fill in the Blank)
Loss
What is written for a set number of years?
Straight Term
Insurance helps increase _______ in times of financial insecurity and emergency.
(Fill in the Blank)
Certainty
Another facet of risk avoidance is ___ prevention and control.
(Fill in the Blank)
Loss
_________: is insurance companies choosing who they insure and how much they will insure.
(Fill in the Blank)
Underwriting
________ _____: This transfers risk of loss to your insurance company.
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Insurance Policy
Insurance policy: This transfers ___ __ ___ to your insurance company.
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risk of loss
_______ ____, is how insurance companies justify taking this risk.
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Actuarial data
Life insurance is what protects your dependents...
Life insurance is what protects your dependents in the event of your death. This means that insurance will provide protection for your family.
The difference between loss control and loss prevention is that loss control...
Loss control lessens the severity of loss once it happens.
Term Life Insurance...
1. Simplest insurance policy
2. Purchases an amount of insurance protection for an amount of time
3. If you die before the policy expires, your beneficiaries receive the full amount in your policy