All of these statements concerning Settlement Options are true, EXCEPT
- A – rapid depletion of proceeds can be avoided
- B – Proceeds can be administered be the insurance company
- C – increased proceeds can be provided through accumulation of interest
- D – Only the beneficiary may select
- Answer: D – only the beneficiary may select
Answer D is the answer of All of these statements concerning settlement options are true except
Do you have any idea of the different types of insurance? We bet that you don’t! Well, in this quiz we will provide a list of questions to test your knowledge. Before we start, let’s take a look at some information about insurance.
Insurance is a form of risk management primarily used to hedge against losses from future events. It can also be called protection and indemnity coverage. The word “insure” means “to protect or guard from danger” and comes from the Latin root word for secure or safety: securitas.
Insurance provides financial protection by transferring an individual’s risk to another entity that specializes in bearing it (the insurer).