A type of insurance that guarantees a specified sum of money to the surviving beneficiaries upon the death of the person insured is called casualty insurance.

Question

A type of insurance that guarantees a specified sum of money to the surviving beneficiaries upon the death of the person insured is called casualty insurance.​

Quizplus · Accepted Answer

The correct term for this type of insurance is life insurance, not casualty insurance. Casualty insurance typically covers loss or damage to property or liability for damage caused to others.

A Type of Insurance That Guarantees a Specified Sum of Money