What are the 4 types of insurance? - ProProfs Discuss

# What are the 4 types of insurance?

Asked by Minal_akre, Last updated: Jan 18, 2021

#### kulomrejoice

Kulomrejoice

Refer correct question: The correct answer is option A.

#### J. Shatner

J. Shatner, Content writer, Boston

This question is hard to answer mainly because the details that are written in the choices are wrong. First of all, the premium cannot be 0 for all of the choices because based on the table, there are different numbers that are given. If A is the right answer, the choice should be a 23-year old insurance class A premium is 90 and the excess is 2,500.

Premium can be considered an excess which means that the choice should be something that will be beneficial. If A would be chosen, this means that the interest rate will be the same as compared to rule 1. There will also be less investment which means that there will be more profit available.

Please explain how is it possible,

#### emlghwlkr

Emlghwlkr

How is the premium 0 rather than 90 which is displayed in the table

#### John Smith

John Smith

23 year old in insurance class A Premium is 0 and excess is,500.