Question

In insurance terms the risk of suffering a disability is best described as what type of risk?
Financial
Fundamental
Homogeneous
Speculative

Answer 1

⏩In insurance terms the risk of suffering a disability is best described as what type of risk?
Financial
Fundamental✔
Homogeneous
Speculative

☁fundamental is the answer☁

Answer 2

Financial loss would be severe even though chance of loss is small and situation of low probability but high severity is where insurance works as efficiently and effectively.

Most of teh Life insurance companies measures probabilities with easily observing large numbers as similar exposures insured in the statistical group.

It mainly makes estimate of the probability suitable for easily enabling the complete aspects.