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Financial Planning Courses: Insurance and Risk Management

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1.
Before buying an insurance policy, you should determine _______.
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How much of the risk you can assume yourself. Determining this will affect the coverage you select and the premiums you pay.
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.
Financial risks can be caused by _______.
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Any of the above. Anything unexpected that has an adverse effect on your financial goals is financial risk.
4.
An insurance deductible amount is an example of _______.
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Sharing risk. By sharing risk with an insurer through a co-pay or deductible amount, you can lower your insurance premiums.
5.
If you injure yourself at work and become unable to perform your duties, what form of insurance is designed to pay you benefits for a certain length of time?
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Disability insurance. Disability insurance provides financial benefits if you should become unable to work due to a disabling illness or injury.