Casualty and life insurance benefits that over time offer the public protection from the often catastrophic financial effects of theft, accidents, natural disasters, and death are called

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Casualty and life insurance benefits are a type of contingent claim, as they only pay out if a specific event (such as an accident or death) occurs. Savings deposits, time deposits, and transaction deposits are types of bank accounts and do not offer protection from theft, accidents, natural disasters, or death.

Casualty and Life Insurance Benefits That Over Time Offer the Public