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Insurance is supposed to provide protection against financial risks, and while dying too s

oon is one major risk we face, another risk more and more people fear is outliving their money. As a result, a growing array of life insurance products make it possible to protect against both of those risks.

In many of today's life insurance products, MacDonald notes, "The death benefit portion really has become a commodity type product, so if someone is really concerned about the financial impact of dying young, then they can get a pretty good deal by buying term insurance on a commodity basis—find the cheapest policy and buy it. "But, he says, " The other side of the coin is that insurance companies have developed products that can be very creative, and very competitive to other alternatives, including investments. They can fill a very important role in any overall investment plan. "

Diverse and universal policies offer people choices in how much they want to put into their policies and how they want their funds invested. These funds can then be tapped later on to provide a lump sum for purchasing a retirement home or a stream of retirement income. Life insurance is an attractive investment vehicle, because the " inside buildup" , the accumulation of funds inside a policy structrue, is not subject to taxes, in contrast to other personal investments.

However, MacDonald and others warn against using insurance policies purely as an investment. While there are tax advantages, there are also the costs connected with the insurance coverage, and if you don't need that coverage these can be expensive ways to invest.

Moreover, MacDonald notes that some companies are offering insurance that has a critical illness or long-term care benefit. These policies specify that if someone suffers a heart attack, for example, they will get 25% of the face amount of the insurance policy immediately rather than at death. Or if they must be confined to a nursing home, they will be able to use up to the face amount of the policy to pay the nursing home costs.

Amid the proliferation of insurance product, MacDonald says, "The positive side of it is there are better products—they're cheaper and more flexible. The negative side is that it's more complicated and easier to make a mistake. In the past, it was plain vanilla; everybody was selling the same product and everybody had to find an agent they liked. Now there has been significant changes in product structure and design, and benefits, and so it is worthwhile to shop around. "

The purpose of insurance is to______.

A．give you money whenever you need

B．protect you from financial risks

C．save money

D．outlive money

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发布时间：2020-10-08
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更多“Insurance is supposed to provide protection against financial risks, and while dying too s”相关的问题

第1题

听力原文：Let me tell you a story about Bert and Mildred Bumbridge, who used to be very for

听力原文： Let me tell you a story about Bert and Mildred Bumbridge, who used to be very forgetful. For example, Mildred would forget to cook dinner, or Bert would show up for work on Sunday thinking it was Monday. One summer they were to take a long plane trip. What do you suppose happened？ Well, they got to the airport with only ten minutes to spare. So time was short. In that situation anyone would board the plane right away. But not Mr. And Mrs. Bumbridge. They just had to buy some flight insurance first. After all, who knows what will happen on a plane flight？ They quickly put some coins into a machine and out crone their insurance policy. "Who would get the motley ff we crash, I wonder？" asked Mildred. "My mother, of course." her husband replied. "We'll mail the policy to her. Now quick, give me a stamp, will you？" he said. "The plane's going to take off in another minute." Bert put the stamp on the envelope, dropped it in the mail box, and suddenly let out a cry. What happened, do you suppose？ He had mailed their plane rickets to his mother!

(23)

A．They were always short of time.

B．They were very forgetful.

C．They were very frightened of flying.

D．They often suffer from airsickness.

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第2题

Sharing Economic Losses Through InsuranceEach minute of the day or night, everyone faces a

Sharing Economic Losses Through Insurance

Each minute of the day or night, everyone faces a possible financial loss. A home may be destroyed by fire, damaged by lightning, or leveled by a tornado(龙卷风). Personal belongings may be stolen. A car may be damaged in an accident, or it may cause injury to people and property. Income may be lost as the result of the death, disability, or unemployment of a family wage earner. The chance that a loss of this kind may occur is called an economic risk.

Savings provide one way to take care of financial losses. But savings are not the answer to large losses. The best way to guard against large financial losses is through insurance.

Insurance Is a Plan for Sharing Risks and Losses

Ted Mather and four of his friends have a rock group called Quint. Each member of the group owns a valuable instrument. Ted's bass alone cost $900. If an instrument was stolen or damaged, it would be a serious financial loss for its owner.

Suppose, however, that the members of the group agree to share any losses that occur. For example, if Ted's bass is stolen, each member of the group would contribute $180 to replace it. In other words, they would share the loss. This is the principle of insurance. Persons facing the same risk share the losses that occur among them.

From an insurance standpoint, however, an informal agreement like that made by Quint would not provide much protection. Why？ The reason is that all the instruments might be stolen or damaged at the same time. The group rehearses in the Mathers' garage and sometimes leaves their instruments there between rehearsals. They also travel together in a van when they perform. Suppose that a thief broke into the garage and stoic all the instruments. What if the garage caught fire？ What if all instruments were damaged in an accident on the way to or from a concert？ Each member of the group would have to pay one-fifth of the total loss. For some members, this might be more than the amount of their own actual loss.

The purpose of insurance is to provide protection against financial loss at a reasonable cost. This is possible only when the cost of insurance is shared by many people who face a similar risk. But not all of them are likely to have actual losses at the same time.

You Buy Insurance from Insurance Companies

Almost 4,800 companies in the United States are in the business of providing insurance protection. These businesses are called insurance companies. Because 57% percent of the insurance companies operate on a big scale, they provide a way for large numbers of people to share their losses.

When you buy insurance, you enter into a written agreement with the insurance company. This agreement is called a policy. The person who buys insurance is the policyholder. According to the agreement, the insurance company promises to pay the policyholder if certain types of losses occur. The policy states exactly what losses the company will pay for. For this protection, the policyholder makes regular payments to the insurance company. Each payment is called a premium(保险费). The premiums paid by all policyholders are used to pay those who have losses. In this way, a loss that might result in great financial hardship for one person or household is shared by many people. Because only a portion of those insured will actually have losses, premiums are small compared to the amount of protection provided.

Many Kinds of Risks Can Be Insured

Insurance can provide protection against almost any kind of loss. Singers may insure their voices. Photographers may insure their negatives(底片). The owner of a home freezer may in sure against food loss in case of power failure. A business owner can insure his or her place of business. A business owner can also insure against a loss of profits during a shutdown following a fire or damaging accident

A．Y

B．N

C．NG

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第3题

假设娜塔莎的效用函数为 给出，式中，I为以千美元为单位的年收入。(1)娜塔莎是风险偏好型的、风险
假设娜塔莎的效用函数为 给出，式中，I为以千美元为单位的年收入。（1)娜塔莎是风险偏好型的、风险

假设娜塔莎的效用函数为假设娜塔莎的效用函数为 给出，式中，I为以千美元为单位的年收入。（1)娜塔莎是风险偏好型的、风险假设给出，式中，I为以千美元为单位的年收入。

(1)娜塔莎是风险偏好型的、风险中性的，还是风险规避型的？请解释。

(2)假设娜塔莎现在的收入为40000美元(I =40)，同时明年也肯定可以获得同样的收入。她现在面临另外个工作机会，该一工作获得44000美元收入的概率为0.6,获得33000美元收入的概率为0.4。她会选择这个新工作吗？

(3)在(2)中，娜塔莎为了规避新工作对应的收入的波动，愿意购买保险吗？如果愿意,她愿意支付多少保费？ (提示:风险溢价是多少？)

Suppose that Natasha's utility function is given by假设娜塔莎的效用函数为 给出，式中，I为以千美元为单位的年收入。（1)娜塔莎是风险偏好型的、风险假设，where I represents annual income in thousands of dollars.

a. Is Natasha risk loving, risk neutral, or risk averse？ Explain.

b. Suppose that Natasha is currently earning an income of $40000 (1 = 40) and can earn that income next year with certainty. She is offered a chance to lake a new job that offers 0. 6 probability of earning S 44000, and 0. 4 probability of earning $ 33000. Should she take the new job？

e. In (b), would Natasha be willing to buy insurance to protect against the variable income associated with the new job？ If so, how much would she be willing to pay for that insurance？ (Hint:What is the risk premium？)

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第4题

Mrs. Grey lived in the country, but she worked in London. She drove to the railway station
in her car every morning, and left it in the station car park until she arrived back on the train in the evening. She was a careful driver, but one morning she was rather late, so she was going faster than usual when she had an accident in a narrow road not far from her home.

What happened was that another car was coming in the opposite direction, and either that one or Mrs. Grey's car was too far in the middle of the road, or perhaps both of them were. They ran into each other and were both damaged, although not enough to stop them from driving.

Both Mrs. Grey and the other driver, who was a young man whom she had seen in the district but had not met, got out of their cars, and Mrs. Grey said, "I'm afraid I haven't got time to waste on an accident this morning, as I have a very important appointment in town at nine, and I suppose you're a busy man too." .

"Yes, I am," the young man said, "but we'll have to c. all the police for insurance purposes, won't we？ They won't pay for the damage unless we have reported the accident to the police and they have come and seen what happened."

"Yes, certainly," Mrs. Grey answered, "but I have something to suggest. We won't be committing a crime if we go away now in our cars, and then come back to the scene of the accident, say, at six this evening, and put them in exactly the same positions as they are in now. Then we can call the police. They won't know what time the accident happened, and the insurance companies won't care either as long as we can send them a police report of the accident. " " What a good idea !" the young man said happily. "So I'll be waiting here at six o'clock this evening. I won't be late!" "Nor will I," Mrs. Grey answered. She and the young man exchanged visiting cards, and then each drove off to their work.

When Mrs. Grey arrived at the station from London at a quarter to six that evening, she got into her car, drove to the place where the accident had happened, and found the young man waiting there in his car. They put both cars in exactly the same positions as they had been in after the accident, and then Mrs. Grey called the police, using the telephone in her car, as if the accident had just happened.

The most suitable title for this passage is______.

A．A Late Car Accident

B．A Funny Car Accident

C．A Bad Car Accident

D．A Lucky Car Accident

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第5题

听力原文：M: I suppose you must have heard about that great piece of concrete falling onto
a car in that terrible accident in South Street yesterday, didn't you, Jane？

W: Yes, I saw it in the paper. From a 200-foot high building, wasn't it？ I gather the driver had just got out or he'd have been killed, wouldn't he？

M: Oh, yes. I saw the car; it was totally damaged.

W: You usually park your car around there, don't you, Bill？

M: Yes, I left it in that very spot a couple of days ago, but yesterday it was parked up the road.

W: You were lucky then, weren't you, Bill？

M: Out of luck, you mean! I'd be very pleased if my old ear were smashed to bits. I could claim from the insurance company then, couldn't I？

W: But you used to be so proud of your car, weren't you？

M: I used to be years ago, but now there are all sorts of repairs to be done, and I just haven't got enough spare cash to put it right.

W: You can always sell it, can't you？

M: Few people are stupid enough to buy a car in that state, are they？

W: The man whose car was crushed yesterday was very annoyed about it. He'll be given a new car by the builders, though.

M: Yes, but his car was a specially-built model that can't be replaced, and there was hardly anything wrong with it, was there？

W: Well, that's life! When people actually want to get rid of their cars, this sort of thing seldom happens, does it？

(20)

A．There was a traffic accident.

B．A car was smashed by a falling object.

C．A car hit someone near the high building.

D．A driver was killed in his new car.

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第6题

•Read the article below about American consumers' borrowing styles, and the question
s on the opposite page.

•For each question 13--18, mark one letter (A, B, C, or D) on your Answer Sheet for the answer you choose.

HOW DO AMERICAN CONSUMERS BORROW？

Young consumers often have not established their credit ratings. Many do not have steady incomes. They might have difficulty borrowing money from an agency in business to make loan. Parents or relatives are usually their best source of loans. Of course, the parents or relatives would have money available and be willing to lend it. You might even get an interest-free loan.

For most consumers the cheapest place to borrow is at the commercial bank. Banks are a good source of installment loan which may run for 12 months up to 30. Most of banks also make single-payment loans to consumers for short periods--30, 60, or 90 days. The newest type of bank loan is one that a depositor can get simply by writing a check. It works like this. A depositor is given a limited amount of credit, usually between $ 500 and $1, 000. He or she may write checks up to the amount allowed. Once a check has been written, the amount of the check becomes a loan. Usually no charge is made for interest until the loan is made. A typical interest rate is 3 cents per $100 per day, or just under 1% a month. Suppose that you used $100 of your credit and repaid it in 30 days. The cost would be 90 cents. If you repaid it in 10 days, the cost would be only 30 cents.

There is another source of consumer loans that may be even cheaper than a bank. It is a credit union. But you have to be a member to borrow from one. A credit union is a cooperative. You remember that a cooperative is a business organized to provide its owners, or members, with goods or services at a saving. Like a bank, a credit union is both a savings and a lending organization. Its members deposit their savings in the credit union and are paid interest in return. These savings are used to make loans to members at low rates. Members of a credit union are people with a common bond. They may work for the same firm or belong to the same church, lodge, or labor union.

Consumer loans are small in amount compared to those made to business firms. Companies that specialize in making loans to consumers, therefore, are sometimes called small-loan companies. These companies operate under state laws which regulate both the maximum amount that can be loaned and the rates charged. Regulations vary from one state to another. In general, however, the rates charged by small-loan companies are higher than those of other legal lenders except pawnbrokers. The following facts should tell you why.

Half or more of the loans made by small-loan companies are signature of character loans. Practically all loans are paid in installments. In some states, small-loan companies will lend as little as $ 25 or $ 50. Many of their customers are persons whose credit ratings are so poor that they cannot borrow elsewhere.

Another possible source of loans is a life insurance policy. Life insurance loans are easy to obtain. The rate charged is less than that for almost any other type of loan available to consumers. This is because the lender takes no risk. Also, borrowers may take as long as they want to repay their loans. Although that may seem like an advantage, it can also be a disadvantage. When a borrower is not required to repay a loan within a certain time, it is easy to let it run on and on. This increases the dollar cost of the loan because interest must be paid for as long as the loan continues.

Why is it difficult for young consumers to borrow money from bank？

A．Because they have no steady work and can't register a credit card.

B．Because they drag out the loan.

C．Because they are unlikely to pay the things purchased by credit.

D．Because they are unwilling to pay interest.

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第7题

"Suppose" can be used as a conjunction. As a conjunction, "suppose" is followed
by a clause, used in the sense of "what would/will happen if...". Rewrite the following sentences with the help of the condition provided, using "suppose".
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第8题

to provide the insurance
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第9题

Insurance policy Insurance certificate Open policy Premium The insurer

Insurance policy Insurance certificate Open policy Premium The insurer

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第10题

I can't do this maths problem.A．I suppose so.B．Let me see.C．Certainly not.

I can't do this maths problem.

A．I suppose so.

B．Let me see.

C．Certainly not.

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第11题

What does insurance clause include？
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