Identify the Correct Statement About Life and Health Insurance

question 70

Multiple Choice

Identify the correct statement about life and health insurance.

• A)Private life insurance companies provide insurance, and individuals have to buy their products on an involuntary basis.
• B)Property/casualty insurers do not sell health insurance.
• C)Life and health insurance is available only on an individual basis.
• D)The Social Security program provides substantial amounts of life/health insurance, and individuals voluntarily decide whether or not to buy their products.
• E)It covers exposures to the perils of disability and old age.

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Definitions:

Another Person

Refers to an individual or entity distinct from the parties directly involved in an agreement or legal case.

Security Deposits

Funds held by a landlord or property manager for a potential need related to rental property damage or non-payment, to be returned or applied as specified in a rental agreement.

Written Accounting

A detailed, formal report that records financial activities and transactions, typically prepared by an accountant or auditor.

Implied Warranty

An unwritten guarantee that the product or service sold is fit for the purpose intended and meets the buyer's expectations.