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Which of the following is correct? Statement A. The system of insurance benefits individual, family and the society Statement B. Insurance companies could invest in speculative ventures.

A. A is correct

B. B is correct

C. Both A & B

D. None of the above

Answer: Option A

Solution(By Examveda Team)

The system of insurance benefits individual, family and the society. Insurance benefits individuals, organizations and society in more ways than the average person realizes. Insurance meets statutory and contractual requirements as well as provides evidence of financial resources. Another very important benefit of insurance is promoting risk control activity.

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