noun
1.
Risk is the likelihood that an insured event occurs, that is, an event in which the insurance company is likely to pay out a Claim. Insurance companies use Risk when determining whether to insure a home, car, or individual, and when setting Premiums. People with lower Risk generally pay lower rates, and people with higher Risk generally pay higher rates.
Business owners may be able to protect themselves from the financial consequences of losing a key employee.
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For married couples, weighing life insurance pros and cons later in life is key to choosing what fits your needs.