Exam (elaborations)
ExamFX Life and Health Insurance Study Guide | 312 Questions with 100% Correct Answers | Verified | Latest Update 2024 | 34 Pages
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An insured pays a $100 premium every month for his insurance coverage, yet the insurer promises to pay $10,000 for a covered loss. What characteristic of an insurance contract does this describe? - Aleatory: an aleatory contract means unequal amounts are exchanged between payments and benefits ...
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