Financial Institutions Markets and Money
Quiz 17: Insurance Companies and Pension Funds
Life Insurance Companies Are the Oldest Financial Intermediary in the United
Life insurance companies are the oldest financial intermediary in the United States.
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The assets of life insurance companies are not as marketable as those of casualty/property insurance companies because life companies have greater certainty of claims.
An annuity provides both insurance against premature death and savings features.
Property/liability insurance companies pay little federal income tax, thus explaining their large portfolio of state and municipal, tax-exempt securities.
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