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Both life and general insurance policies are risk based. In the case of life insurance policy, the risk is human life based. In general insurance, the risk whether cash/kind varies as per specific nature of the policy.In fact insurance policy is a substitute against avertment of risk factor.
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∙ 10y ago
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How does life insurance differ from other types of insurance?
Life insurance is not based on risk pooling.
All insurance is based on a principle called what?
Division of Risk
All insurance is based on a principle called?
Division of risk.
Can your homeowner's insurance be transferred?
No, Insurance is not transferable. Each insured has to qualify based on their own risk factors.
What Is a document that is based on the amount of risk taken on a specific outcome?
Insurance policy
Is termite damage covered under homeowner insurance?
no... insurance is based on risk, termites are pretty much a sure thing
Is risk insurance and risk insurance management are same?
According to my opinion or my experience risk insurance and risk insurance management are differ from each other. Risk Insurance is the risk that is insured Risk Insurance Management Consist of process How the Risk can be manage it include prevention of risk and minimization of risk and many other proces.
Does business insurance raise my premium?
Business insurance is based on two principles: one is your risk and history in the industry, and two is history and risk of your company. If these two items are compromised then your premium will be raised.
Why do insurance and garages say a car is only 8000 per yearfor average milage?
Insurance coverage is based on "Risk" and vehical value. The more mileage you drive a year the more risk you are. The more Mileage on your car the less it is worth. 8000 miles is the average Urban resident mileage and that is what most people have their insurance based on.
Do you need risk management or insurance?
do you need risk management or insurance
Why is car insurance for young drivers so expensive?
Car insurance is more expensive for younger drivers due to the fact that their lack of driving experience makes them a higher risk. Insurance companies charge based on a number of factors that contribute to your overall risk as a customer.
What is a person trained in mathematics who calculates risk based on loss percentages and determines insurance rates and premiums?
An Actuary.
