What are insurance funds and what are examples of insurance funds?

Q: Identify how life insurance fund appears in the financial statements? a. The debit side of the…

A: Life Insurance Fund- It is a fund which helps the entity in making payment for its obligation which…

Q: Compare whole-life and term insurance.

A: Insurance is a legal agreement between an insurer (insurance company) and an insured person.

Q: What are the performance measures of an insurance company?

A: Insurance is a contract in which an individual or business receives financial protection or…

Q: What is the difference between insurance companies and pension funds?

A: Insurance and pensions funds are two quite different types of institutions.

Q: How tools are used in insurance risk management

A: Risk Management Techniques  Techniques for coping with dangers are known as risk management…

Q: What is the role of Insurance company?

A: Answer no 3. Insurance companies are a part of financial system and considered as a safeguard the…

Q: Define insurance expense.

A: Expense: It refers to the cost incurred by a business to generate revenues in their business…

Q: beneficiary of a life insurance policy is

A: Beneficiary of a life insurance policy is the person who receives money from the insurance company…

Q: Why insurance companies important for individuals?

A: A for-profit, non-profit, or government-owned firm that provides the promise to pay for particular…

Q: Explain Default Insurance?

A: Insurance is defined as a type of protection is a lawful understanding between two parties for…

Q: What is life insurance company?

A: Life insurance: Life insurance is an agreement among an insurance corporation (insurer) and an…

Q: Who are the target customer of insurance companies?

A: Future events are uncertain and unavoidable, due to which risk arises. There are various methods to…

Q: Is insurance company a financial institution? Why?

A: Financial Institution:-These are those companies that are engaged in the business dealing with…

Q: Why does group life insurance use a formula to determine the amount of insurance per employee?

A: Group term life insurance: Group term life insurance refers to a type of term insurance in which one…

Q: What is the difference between life insurance and annuity?

A: Meaning:Life insurance is a cover on financial loss, and it is a contract between insurer and a…

Q: Define the term prepaid insurance.

A: Prepaid expenses: Advance payment for future expenses is called as prepaid expenses. These prepaid…

Q: What is the importance of insurance companies?

A: Insurance firms are financial middlemen that provide direct insurance or reinsurance services,…

Q: What are the benefits of Trust fund

A: A trust fund is that legal entity that holds property on behalf of someone.

Q: How do insurance companies determine how much you should pay for your insurance coverage?

A: The amount of money paid for an insurance policy is termed as insurance premium. The premium is paid…

Q: ce risk management tools?

A: Risk Management Techniques  Techniques for coping with dangers are known as risk management…

Q: What is a trust fund?

A: Trust Fund: Trust fund is a legal entity that holds property or assets on behalf of another person,…

Q: Define bond insurance

A: Bond Insurance is also known as financial guarantee insurance. As the name suggests, it means that…

Q: what is life insurance

A: Life insurance in the insurance of risk done by the policy holder that pays the amount to the policy…

Q: Describe the Investments in Life Insurance Policies.

A: Life Insurance policies are to provide financial support to the beneficiaries and dependents after…

Q: How insurance companies works?

A: Insurance companies are the type of organizations that were established in order to cover the…

Q: What type of information is entered for insurance and why is insurance important?

A: Insurance is a way to protect oneself from financial loss. It is a type of risk management that is…

Q: What are the benefits of having third-party insurance?

A: When insurance is purchased for protection against claims of other persons, the insurance is called…

Q: Which of the following statements about prepaid insurance is true?

A: Prepaid insurance is a current asset which is created when the insurance paid comprises of a portion…

Q: How does the Insurance Commission assure the investing public on the safety of the Insurance…

A: Insurance Commission is an amount paid to the broker or agent of insurance products for selling the…

Q: ow core deposits and purchased funds work ?

A: Commercial banks: It is the financial institution that accepts deposits from the public and gives…

Q: Do risk influence people to go for insurance? What is the relationship between risk and insurance?

A: Yes, risk influences people to go for insurance. Several kinds of risks influence a person to get…

Q: How do insurance companies calculate their premiums?

A: Insurance guarantees payment of a stated benefit after completion of a defined period. After expiry…

Q: Why do we need FDIC insurance?

A: Insurance companies and agencies adopt financial strategies to manage various types of risks.…

Q: Explain the Kinds of Title Insurance Policies?

A: An insurance policy that shields the insurance holder from financial loss that arises from the…