You visited us 1 times! Enjoying our articles? Unlock Full Access!

Byju's Answer

Standard XII

Business Studies

Investment Decision

In life insur...

Question

In life insurance, the risk insured is __________________.

certain to occur and also the timing of its occurrence is known

No worries! We‘ve got your back. Try BYJU‘S free classes today!

certain to occur but its timing of occurrence is not known

No worries! We‘ve got your back. Try BYJU‘S free classes today!

not certain to occur and also the timing of its occurrence is not known

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

not likely to occur

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C not certain to occur and also the timing of its occurrence is not known
Life insurance are taken to cover up the unforeseen and untimely event occurs during the life time. Life insurance companies provide the coverage of life of the insurer by taking an insurance premium. Life cover are taken to have future security in case of untimely and unforeseen circumstances.

Suggest Corrections

Similar questions

Q. The probability of the occurrence of two independent events (

A

and

B

) is known to be each greater than

\frac{1}{2}

. Its given that probability of the occurrence of the second event is

\frac{3}{25}

. Also the probability of the occurrence of second simultaneously with the first not occurring is

\frac{8}{25}

. Find the probability of the events.

Q. Consider four independent trials in which an event

A

occurs with probability

\frac{1}{3}

. The event

B

will occur with probability

1

if the event

A

occurs at least twice, it can not occur if the event

A

does not occur and it occurs with a probability

\frac{1}{2}

if the event

A

occurs once. If the probability

p

of the occurrence of event

B

can be expressed as

\frac{m}{n},

where

m, n \in N,

then the least value of

m + n

Q. Consider four independent trials in which an event

A

occurs with probability

\frac{1}{3}

. The event

B

will occur with probability

1

if the event

A

occurs at least twice, it can not occur if the event

A

does not occur and it occurs with a probability

\frac{1}{2}

if the event

A

occurs once. If the probability

p

of the occurrence of event

B

can be expressed as

\frac{m}{n},

where

m, n \in N,

then the least value of

m + n

Q. A and B are two independent events. The probability that both A and B occur is

\frac{1}{6}

and the probability that neither of them occurs is

\frac{1}{3}

. The probability of occurrence of A is?

Q. The probability of the occurrence of two independent events

A

and

B

\frac{1}{6} .

The probability that neither occurs is

\frac{1}{3} .

Then the probability of occurrence of only A is

Join BYJU'S Learning Program