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Read the following passage and answer the questions given below it.Life is full of risks and accidents. People are at risk for getting injured when playing sports, riding in a car, or living in a house. Risk is uncertainty about a situation’s outcome. Insurance is an arrangement between an individual (insured) and an insurer (insurance company) to protect the individual against risk. Insurance plays a large role in most individual’s financial management plans. The purpose of insurance is to help individuals limit their financial losses when an accident occurs. It helps the individual to be prepared for the unexpected.To purchase insurance, consumers purchase a policy. A policy is a contract between the individual and the insurer specifying the terms of the insurance arrangements. A policyholder is the consumer who purchased the policy. The policy will state the premium and deductible amounts. A premium is the fee paid to the insurer to be covered under the specified terms. A deductible is the amount paid out of pocket by the policy holder for the initial portion of a loss before the insurance coverage begins. The amount of a premium or a deductible will vary depending on the type of insurance and the terms of the policy.Q.Which of the following factor/s determine the amount ofpremium and deductible?a)The type of insurance purchasedb)The terms of the insurance policyc)Both 1 and 2d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? for SSC 2024 is part of SSC preparation. The Question and answers have been prepared according to the SSC exam syllabus. Information about Read the following passage and answer the questions given below it.Life is full of risks and accidents. People are at risk for getting injured when playing sports, riding in a car, or living in a house. Risk is uncertainty about a situation’s outcome. Insurance is an arrangement between an individual (insured) and an insurer (insurance company) to protect the individual against risk. Insurance plays a large role in most individual’s financial management plans. The purpose of insurance is to help individuals limit their financial losses when an accident occurs. It helps the individual to be prepared for the unexpected.To purchase insurance, consumers purchase a policy. A policy is a contract between the individual and the insurer specifying the terms of the insurance arrangements. A policyholder is the consumer who purchased the policy. The policy will state the premium and deductible amounts. A premium is the fee paid to the insurer to be covered under the specified terms. A deductible is the amount paid out of pocket by the policy holder for the initial portion of a loss before the insurance coverage begins. The amount of a premium or a deductible will vary depending on the type of insurance and the terms of the policy.Q.Which of the following factor/s determine the amount ofpremium and deductible?a)The type of insurance purchasedb)The terms of the insurance policyc)Both 1 and 2d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for SSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the following passage and answer the questions given below it.Life is full of risks and accidents. People are at risk for getting injured when playing sports, riding in a car, or living in a house. Risk is uncertainty about a situation’s outcome. Insurance is an arrangement between an individual (insured) and an insurer (insurance company) to protect the individual against risk. Insurance plays a large role in most individual’s financial management plans. The purpose of insurance is to help individuals limit their financial losses when an accident occurs. It helps the individual to be prepared for the unexpected.To purchase insurance, consumers purchase a policy. A policy is a contract between the individual and the insurer specifying the terms of the insurance arrangements. A policyholder is the consumer who purchased the policy. The policy will state the premium and deductible amounts. A premium is the fee paid to the insurer to be covered under the specified terms. A deductible is the amount paid out of pocket by the policy holder for the initial portion of a loss before the insurance coverage begins. The amount of a premium or a deductible will vary depending on the type of insurance and the terms of the policy.Q.Which of the following factor/s determine the amount ofpremium and deductible?a)The type of insurance purchasedb)The terms of the insurance policyc)Both 1 and 2d)None of the aboveCorrect answer is option 'C'. Can you explain this answer?.

Solutions for Read the following passage and answer the questions given below it.Life is full of risks and accidents. People are at risk for getting injured when playing sports, riding in a car, or living in a house. Risk is uncertainty about a situation’s outcome. Insurance is an arrangement between an individual (insured) and an insurer (insurance company) to protect the individual against risk. Insurance plays a large role in most individual’s financial management plans. The purpose of insurance is to help individuals limit their financial losses when an accident occurs. It helps the individual to be prepared for the unexpected.To purchase insurance, consumers purchase a policy. A policy is a contract between the individual and the insurer specifying the terms of the insurance arrangements. A policyholder is the consumer who purchased the policy. The policy will state the premium and deductible amounts. A premium is the fee paid to the insurer to be covered under the specified terms. A deductible is the amount paid out of pocket by the policy holder for the initial portion of a loss before the insurance coverage begins. The amount of a premium or a deductible will vary depending on the type of insurance and the terms of the policy.Q.Which of the following factor/s determine the amount ofpremium and deductible?a)The type of insurance purchasedb)The terms of the insurance policyc)Both 1 and 2d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for SSC. Download more important topics, notes, lectures and mock test series for SSC Exam by signing up for free.

Here you can find the meaning of Read the following passage and answer the questions given below it.Life is full of risks and accidents. People are at risk for getting injured when playing sports, riding in a car, or living in a house. Risk is uncertainty about a situation’s outcome. Insurance is an arrangement between an individual (insured) and an insurer (insurance company) to protect the individual against risk. Insurance plays a large role in most individual’s financial management plans. The purpose of insurance is to help individuals limit their financial losses when an accident occurs. It helps the individual to be prepared for the unexpected.To purchase insurance, consumers purchase a policy. A policy is a contract between the individual and the insurer specifying the terms of the insurance arrangements. A policyholder is the consumer who purchased the policy. The policy will state the premium and deductible amounts. A premium is the fee paid to the insurer to be covered under the specified terms. A deductible is the amount paid out of pocket by the policy holder for the initial portion of a loss before the insurance coverage begins. The amount of a premium or a deductible will vary depending on the type of insurance and the terms of the policy.Q.Which of the following factor/s determine the amount ofpremium and deductible?a)The type of insurance purchasedb)The terms of the insurance policyc)Both 1 and 2d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Read the following passage and answer the questions given below it.Life is full of risks and accidents. People are at risk for getting injured when playing sports, riding in a car, or living in a house. Risk is uncertainty about a situation’s outcome. Insurance is an arrangement between an individual (insured) and an insurer (insurance company) to protect the individual against risk. Insurance plays a large role in most individual’s financial management plans. The purpose of insurance is to help individuals limit their financial losses when an accident occurs. It helps the individual to be prepared for the unexpected.To purchase insurance, consumers purchase a policy. A policy is a contract between the individual and the insurer specifying the terms of the insurance arrangements. A policyholder is the consumer who purchased the policy. The policy will state the premium and deductible amounts. A premium is the fee paid to the insurer to be covered under the specified terms. A deductible is the amount paid out of pocket by the policy holder for the initial portion of a loss before the insurance coverage begins. The amount of a premium or a deductible will vary depending on the type of insurance and the terms of the policy.Q.Which of the following factor/s determine the amount ofpremium and deductible?a)The type of insurance purchasedb)The terms of the insurance policyc)Both 1 and 2d)None of the aboveCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Read the following passage and answer the questions given below it.Life is full of risks and accidents. People are at risk for getting injured when playing sports, riding in a car, or living in a house. Risk is uncertainty about a situation’s outcome. Insurance is an arrangement between an individual (insured) and an insurer (insurance company) to protect the individual against risk. Insurance plays a large role in most individual’s financial management plans. The purpose of insurance is to help individuals limit their financial losses when an accident occurs. It helps the individual to be prepared for the unexpected.To purchase insurance, consumers purchase a policy. A policy is a contract between the individual and the insurer specifying the terms of the insurance arrangements. A policyholder is the consumer who purchased the policy. The policy will state the premium and deductible amounts. A premium is the fee paid to the insurer to be covered under the specified terms. A deductible is the amount paid out of pocket by the policy holder for the initial portion of a loss before the insurance coverage begins. The amount of a premium or a deductible will vary depending on the type of insurance and the terms of the policy.Q.Which of the following factor/s determine the amount ofpremium and deductible?a)The type of insurance purchasedb)The terms of the insurance policyc)Both 1 and 2d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Read the following passage and answer the questions given below it.Life is full of risks and accidents. People are at risk for getting injured when playing sports, riding in a car, or living in a house. Risk is uncertainty about a situation’s outcome. Insurance is an arrangement between an individual (insured) and an insurer (insurance company) to protect the individual against risk. Insurance plays a large role in most individual’s financial management plans. The purpose of insurance is to help individuals limit their financial losses when an accident occurs. It helps the individual to be prepared for the unexpected.To purchase insurance, consumers purchase a policy. A policy is a contract between the individual and the insurer specifying the terms of the insurance arrangements. A policyholder is the consumer who purchased the policy. The policy will state the premium and deductible amounts. A premium is the fee paid to the insurer to be covered under the specified terms. A deductible is the amount paid out of pocket by the policy holder for the initial portion of a loss before the insurance coverage begins. The amount of a premium or a deductible will vary depending on the type of insurance and the terms of the policy.Q.Which of the following factor/s determine the amount ofpremium and deductible?a)The type of insurance purchasedb)The terms of the insurance policyc)Both 1 and 2d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Read the following passage and answer the questions given below it.Life is full of risks and accidents. People are at risk for getting injured when playing sports, riding in a car, or living in a house. Risk is uncertainty about a situation’s outcome. Insurance is an arrangement between an individual (insured) and an insurer (insurance company) to protect the individual against risk. Insurance plays a large role in most individual’s financial management plans. The purpose of insurance is to help individuals limit their financial losses when an accident occurs. It helps the individual to be prepared for the unexpected.To purchase insurance, consumers purchase a policy. A policy is a contract between the individual and the insurer specifying the terms of the insurance arrangements. A policyholder is the consumer who purchased the policy. The policy will state the premium and deductible amounts. A premium is the fee paid to the insurer to be covered under the specified terms. A deductible is the amount paid out of pocket by the policy holder for the initial portion of a loss before the insurance coverage begins. The amount of a premium or a deductible will vary depending on the type of insurance and the terms of the policy.Q.Which of the following factor/s determine the amount ofpremium and deductible?a)The type of insurance purchasedb)The terms of the insurance policyc)Both 1 and 2d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice SSC tests.