Question

What does coverage refer to in insurance?

a.

The cost of the insurance policy

b.

The sum of money paid by the policyholder to the insurer

c.

The scope of protection provided under the insurance contract

d.

The duration of the insurance policy

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (c).The scope of protection provided under the insurance contract Explanation:Coverage in insurance refers to the scope of protection provided under the insurance contract, encompassing the various risks covered by the policy.

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