Federal government employee retirement funds that are invested (as opposed to being lent to the U.S. Treasury) are invested in bonds and mortgage instruments repurchase agreements Fed funds Treasury Bills common stocks and mutual funds Ideally, insurance should only cover an event that is a high severity with low frequency. low severity with high frequency. low severity with low frequency. high severity with high frequency. Over the life insurance industry, the largest source of life insurance company net premiums results from health insurance premiums. annuity plan premiums. life insurance premiums. liability insurance premiums. investment income