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Individuals differ in risk aversion for which of the following reasons?
Life Policy
An insurance contract that pays a beneficiary upon the death of the insured, or after a certain period.
Quarterly Premiums
Payments made every three months for insurance policies or other agreements requiring regular fees.
Annual Premium
The amount of money that must be paid once a year to maintain an insurance policy or similar financial product.
Endowment Policy
An insurance policy that pays a specified sum to the policyholder upon a certain date, or to the beneficiaries upon the policyholder's death.
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