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3-3 the Process of Life Insurance Uses Risk Pooling to Transfer

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3-3 The process of life insurance uses risk pooling to transfer income-related uncertainties from a group of individuals to an insured individual.

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Definitions:

Atoms

The basic units of matter consisting of a nucleus surrounded by electrons, making up all chemical elements.

Lattice

A regular, repeated three-dimensional arrangement of atoms, ions, or molecules in a metal or other crystalline solid.

Octahedron

A geometric shape with eight faces, often used to describe the structure of certain crystals or molecules.

Tetrahedron

A polyhedron with four triangular faces, six straight edges, and four vertex corners.

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