However , the timing of an individual 's death is normally out of control of the individual . Therefore , although the event is being insured-death- is a certain event rather than a chance event , the timing of that event usually does occur by chance . An insurable loss must be definite in terms of time and amount . An insurer must be able to determine when to pay a benefit and how much the benefit should be . Death , disability , and old age are generally...











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