51. In a life insurance contract, the stated sum of money to be paid to the beneficiary upon the insured’s death is termed as _________
52. A single policy covering a group of individuals, usually employees of the same company or members of the same association and their dependants is called _________
53. A seller’s market in which insurance is expensive and in short supply is termed as _________
54. An environment where insurance is plentiful and sold at a lower cost, also known as a Buyers market is called _________
55. The concept of insurance involves a transfer of
56. Rakesh recently bought a health insurance policy and a personal accident policy. What main section(s) of the insurance market do these products normally fall into?
57. The main role of an underwriter in a non-life insurance company is normally to
58. Akshat is a relatively cautious person. In insurance terms, this will normally increase the likelihood that he will
59. How are perils and hazards normally distinguished under term insurance policies?
60. In insurance terms, the risk of suffering a disability is best described as what type of risk?
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