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Financial Planning Courses: Insurance and Risk Management

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1.
What section of an insurance contract lists modifications to the policy?
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Endorsements. Endorsements, also called riders, can add or remove coverage from the policy.
2.
What form of insurance would pay for the costs of assisted living?
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Long-term care insurance. This form on insurance covers costs of caring for you over a long period.
3.
The more risk you transfer to an insurance company, the _______ your premiums will be.
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Higher. Premiums will rise to compensate the insurance company for taking on your risk.
4.
Anything _______ that has an adverse effect on your financial goals is financial risk.
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Unexpected. Financial risk involves events that are unexpected.
5.
Life insurance places a value on a person's _______.
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Earning ability. The purpose of life insurance is to pay benefits that replace one's lost earnings ability if one dies.