?
Which of the following is correct?
Which of the following is correct?
Statement A – Insurance reduces burdens
Statement B – Insurance is a system of mutual support.
Statement C – Insurance the only method to manage risks.
Answer & Solution
Correct Answer:
Option
D
Insurance reduces burdens and Insurance is a system of mutual support. Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
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