insurance 14

3. insurance is a risk-pooling plan, an economic device through which the risk of premature death is transferred from the individual to the group.
6. analyses the various needs that must be met if the family head should die.
7. can be defined as the present value of the family’s share of the deceased breadwinner’s future earnings.
9. what is insured in life insurance : possibility of death or untimely death.
10. method is the premium charged is based on the insured’s original age when the term insurance was first purchased.
12. in insurance means the term policy can be exchanged for a cash-value policy without evidence of insurability
13. there is no _ _ _ _ _ _ _ in term life insurance.

1. cost in insurance refers to what the insured policyholder gives up when life insurance is purchased
2. are the types of life insurance.
4. method is the premium charged is based on the insured’s attained age at the time of conversion and the policy is like a newly issued cash value policy in every respect.
5. is death of a family head with outstanding unfulfilled financial obligations
8. Individual has _ _ _ _ _ _ _ _ _ insurable interest when it comes to life.
11. Is there a possibility of partial loss in life insurance