Insurance Is a Form of Coverage for Loss That Is

question 57

True/False

Insurance is a form of coverage for loss that is initiated after the loss has occurred.

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Definitions:

Medicare

A federally funded health insurance program for people 65 years and over who are eligible for Social Security.

Federally Funded

Financially supported or subsidized by a national government.

Low Income

The condition of earning at or below a specified threshold of income, often used to determine eligibility for certain social services or tax benefits.

Double Indemnity

An optional provision in life insurance policies that provides that the insurer will pay double the amount due to a beneficiary if the insured dies from accidental causes.