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what is insurance
Question
Asked 4/20/2012 11:49:54 AM
Updated 5/26/2014 9:04:57 PM
1 Answer/Comment
This conversation has been flagged as incorrect.
Flagged by alfred123 [5/26/2014 9:04:52 PM]
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Original conversation
User: what is insurance

Weegy: Social insurance is any government-sponsored program with the following four characteristics: * the benefits, [ eligibility requirements and other aspects of the program are defined by statute; * explicit provision is made to account for the income and expenses (often through a trust fund); * it is funded by taxes or premiums paid by (or on behalf of) participants (although additional sources of funding may be provided as well); and * the program serves a defined population, and participation is either compulsory or the program is heavily enough subsidized that most eligible individuals choose to participate. ]
jomsday|Points 385|

Question
Asked 4/20/2012 11:49:54 AM
Updated 5/26/2014 9:04:57 PM
1 Answer/Comment
This conversation has been flagged as incorrect.
Flagged by alfred123 [5/26/2014 9:04:52 PM]
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8
Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment.
Added 5/26/2014 9:04:57 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [5/26/2014 9:06:54 PM]
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