Which of the below statement is correct?

A. Life insurance is sold, not bought

B. Life insurance is bought, not sold

C. Life insurance is neither bought nor sold; it is a necessity and hence should be bought by every individual

D. None of the above

Answer: Option A

Solution(By Examveda Team)

Is it true Unlike tangible goods which can be seen and experienced before purchase , very few people feel the need for life insurance. Hence, Life insurance is sold, not bought.