Exam (elaborations)
Michigan Credit Insurance Practice Questions with Approved Answers | Latest 2024/2025
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Definition of Insurance ️ "A social device for transferring risk through an accumulation of funds" Policy ️ A contract with the insurance company (insurer) that states what the policyowner (insured) must pay for and what they agree to cover if damage or loss occurs. Premium ️ A set amoun...
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