Define the term prepaid insurance.

Q: Define the term recovery allowance percentages?

A: Tax based depreciation rates are provided by the IRS and are called MACRS which is the modified…

Q: Compare whole-life and term insurance.

A: Insurance is a legal agreement between an insurer (insurance company) and an insured person.

Q: Define Interest receivable.

A: Introduction: Interest Receivable is an amount which has been earned by the person but the same has…

Q: 2. Describe "insurance premium" in your own words.

A:

Q: Briefly explain the difference between an insurance and an assurancepolicy?

A: Insurance policy and Assurance policy are two different policies.  Insurance policy provides…

Q: Define ordinary annuity.

A: An ordinary annuity refers to the payment of equal amount made after the completion of the time…

Q: Define insurance expense.

A: Expense: It refers to the cost incurred by a business to generate revenues in their business…

Q: beneficiary of a life insurance policy is

A: Beneficiary of a life insurance policy is the person who receives money from the insurance company…

Q: Explain Default Insurance?

A: Insurance is defined as a type of protection is a lawful understanding between two parties for…

Q: what is medicare

A: Insurance is an agreement in which the company provides a guarantee of compensation for specified…

Q: Type of long-term care policies Triggers to become eligible for benefits Exclusions

A: Point to be Noted:- Since you have asked questions with multiple sub parts. I will be answering…

Q: What is General Annuity? (payment interval and interest period, time of payment, duration)

A: An annuity is a contract between you and an insurance company in which you make a lump-sum payment…

Q: Who are the target customer of insurance companies?

A: Future events are uncertain and unavoidable, due to which risk arises. There are various methods to…

Q: Define annuity due

A: Annuity due is an arrangement of payments that are equal as well these payments are paid or received…

Q: risk" factor

A: Risk is a term that shows the possibility of injury or loss to the health, business, vehicle, etc.…

Q: What levels and kinds of risks are properly and mosteconomically passed on to insurance carriers?

A: Levels of risk are: High It involves a huge amount of risks involved that are needed to be insured…

Q: and importance of credit insurance.

A: Credit insurance is a type of insurance policy.

Q: Discuss mortgage life insurance vs life insurance

A: Insurance - Insurance are the facility provided by the insurance company to secure the financial…

Q: An insurance refers to a signed agreement between the insured and the insurer. a. Security b.…

A: In Insurance there are two parties, Insurer and Insured

Q: Briefly explain the following characteristics of long-term care insurance. Protection against…

A: In long-term care insurance plans there are many approaches to obtain inflation insurance cover. The…

Q: Define bond insurance

A: Bond Insurance is also known as financial guarantee insurance. As the name suggests, it means that…

Q: Differentiate annuity dues and deferred annuities.

A: An annuity can be divided into two types: Annuity due: Unlike a regular annuity, annuity due…

Q: Distinguish between an ordinary annuity and an annuity due

A: There are two types of annuities one is ordinary and another is annuity due.

Q: Explain the difference between an ordinary annuity and an annuity due situation.

A: Annuity: It is amount of money payable to an individual at a periodic basis which is normally a…

Q: Prepaid insurance is what it sounds like.

A: The prepaid expenses are the expenses that are paid in advance but not yet due for payment.

Q: What are the Classifications of Annuity.

A: An Annuity is a periodic payment which are made from time to time from a lump sum corpus.

Q: Define this following terms: Environmental Risks, liability risks, insurable risks, self insurance

A: Self-insurance: The act of setting aside or creating funds to meet unexpected incomes and overcome…

Q: Why do we need FDIC insurance?

A: Insurance companies and agencies adopt financial strategies to manage various types of risks.…

Q: Discuss in a report of , the following points:       1- Concept and types of insurance with a…

A: Insurance is basically a contract between two parties in which one party called insurance company…

Q: Define Annuity.

A: Definition:   Present value: This is the amount of future value reduced or discounted at a rate of…

Q: Explain the Kinds of Title Insurance Policies?

A: An insurance policy that shields the insurance holder from financial loss that arises from the…

Classification Of Risk

Risk means when there could be a possibility that the returns expected from a particular project or investment may or may not match the investor's expectations. In other words, the uncertainty of an income arising from a source that would either be lower than expected or result in losses in risk exposure of the project. The higher the risk involved, the higher is the return expected by the investor as the investor is exposed to a high level of risk. There are various methods by which different types of risk can be assessed and avoided or mitigated.