Asked by Beatriz Castro on Jun 30, 2024
Verified
In insurance law, the_____ is the price paid by the insured for insurance protection for a specified period of time.
A) policy
B) risk
C) insurable interest
D) premium
Insurance Law
A branch of law that deals with the regulation of insurance policies and claims.
Premium
The amount paid for insurance coverage or an additional cost for higher-quality services or products.
Specified Period
A clearly defined duration of time, set out in an agreement, contract, or statute, during which certain actions can take place or conditions apply.
- Familiarize yourself with the core elements and participants in insurance contracts.
Verified Answer
IB
Icepatta BunmapremJun 30, 2024
Final Answer :
D
Explanation :
The premium is the term used to describe the price paid by the insured to the insurance company for insurance protection for a specified period of time.
Learning Objectives
- Familiarize yourself with the core elements and participants in insurance contracts.
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