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What is the term for protection that guarantees payment to you in the event of financial loss?

A.
claim
B. insurance
c. premium

User Latania
by
6.1k points

2 Answers

7 votes

Answer:

It is B. insurance

Explanation:

A claim is what you "make" in order to get money from a sort of "sue" or a charge you've pressed.

Insurance is the "guarantee" that, *depends from policy to policy* in certain events, if certain situations occur, you'll be covered.

A premium is simply an amount to be paid for a contract of insurance

User Knaos
by
6.3k points
2 votes

Answer:

Insurance

Explanation:

A term for protection that guarantees payment to you in the event of financial loss is indeed called Insurance

User Rohit Tagadiya
by
5.8k points