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.
Even if you’re young and single, you should still consider protecting yourself.
Life insurance is more than a savings account for your loved ones. Learn the ins and outs of this valuable financial asset and see why it is important no matter your age.
While protection is never a bad thing, you want to make sure the value of the coverage outweighs the added cost.