Exam (elaborations)
Life and Health Insurance Study GuideExamFX | 100% Correct Answers | Verified | Latest 2024 Version
- Course
- Institution
An insured pays a $100 premium every month for his insurance coverage, yet the insurer promises to pay $10,000 for a covered loss. What characteristic of an insurance contract does this describe? - Aleatory: an aleatory contract means unequal amounts are exchanged between payments and benefits ...
[Show more]