Question

What is the term for protection that guarantees payment to you in the event of financial loss?

A.
claim
B. insurance
c. premium

Answer 1

It is B. insurance

Explanation:

A claim is what you "make" in order to get money from a sort of "sue" or a charge you've pressed.

Insurance is the "guarantee" that, *depends from policy to policy* in certain events, if certain situations occur, you'll be covered.

A premium is simply an amount to be paid for a contract of insurance

Answer 2

Insurance

Explanation:

A term for protection that guarantees payment to you in the event of financial loss is indeed called Insurance