Insurance and Community Quiz

What was the earliest form of insurance?

• Life insurance

• Health insurance

• Bottomry

• Auto insurance

What is the role of health insurance in protecting financial stability?

• Protects businesses from financial losses

• Covers medical expenses

• Provides a payout to beneficiaries when the policyholder dies

• Covers financial losses from fire

What type of insurance covers financial loss from car accidents?

• Auto insurance

• Disability insurance

• Health insurance

• Life insurance

What does insurance act as during unexpected events?

• A financial burden

• A source of inequality

• A safety net

• A barrier to growth

What is the essential role of insurance in modern society?

• Driving innovation

• Promoting inequality

• Ensuring financial devastation

• Providing financial security

How insurance influence economy?

• By reducing risks, insurance allows individuals and businesses to invest more confidently.

• Insurance is often required to secure loans, helping businesses expand and individuals buy assets like homes.

• All answers are correct

• A strong insurance industry creates a stable financial environment, leading to job creation and economic well-being.