Actual payments by an insurance company for losses that happen are called:
A. benefits.
B. coverage.
C. premiums.
D. insurable interest.
I think it might be C.
Premiums are what people pay to the insurance companies to KEEP their insurance current.
Look up the terms here:
http://www.answers.com
Let us know what you decide after you are crystal clear on the meanings of these terms.
alright. i think is D. insurable interest.
sorry wrong place its B. coverage.
You're just guessing. When you understand all the terms, let us know.
To determine the correct answer, let's break down the options and their meanings:
A. Benefits: Benefits are the financial payments or assistance provided by the insurance company to the policyholder or the beneficiary after a covered loss or event occurs. However, this option refers to the payments made after a loss, not the actual payments made by the insurance company.
B. Coverage: Coverage refers to the extent or scope of protection provided by an insurance policy. It outlines the specific risks, events, or circumstances that the insurance company is willing to pay for. While coverage is related to the payment of losses, it does not specifically refer to the actual payments made by the insurance company.
C. Premiums: Premiums are regular payments made by the policyholder to the insurance company in exchange for insurance coverage. These payments are usually made on a monthly, quarterly, or annual basis. Premiums represent the cost of insurance and are not the actual payments made by the insurance company after a loss occurs.
D. Insurable interest: Insurable interest is the financial or ownership stake that an individual or entity has in the insured property or person. It refers to the individual's legal or financial relationship to the person or property being insured and is a requirement for obtaining insurance coverage. It does not directly relate to the actual payments made by the insurance company.
Based on the explanations, the answer to the question "Actual payments by an insurance company for losses that happen are called" is:
A. Benefits.
Therefore, the correct answer is not C (premiums), but A (benefits).