Actuarial Science 1021A/B Study Guide - Savings Account, Ontario Health Insurance Plan, Life Insurance
6 Dec 2014
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Document Summary
Economic insecurity is the opposite of economic security a person is unable to achieve a sense of well being due to a fear that present and future needs will not be satisfied. Economic insecurity consists of one or more of the following: Loss of income due to loss of job, either permanent or temporary soon will be unable to satisfy basic needs/wants, unless the person has sufficient assets or post savings or other sources of replacement. Insufficient income occurs when a person is employed but earns a total income that is less than the amount needed to satisfy basic needs/wants can occur even if person is steadily employed and regularly works throughout entire year. 9. 6% or 3. 2 million of canadian people are at or below the poverty line. 15. 0% (23. 5% california) or 46. 2 million of american people are at or below the poverty line.
