The basic purpose of all insurance is to
A)protect your health.
B)protect you from losses.
C)supplement your income.
D)shield you from bad decisions.
E)do none of these.

Question

Quizplus · Accepted Answer

The basic purpose of insurance is to protect individuals from financial losses, such as in the case of an accident or damage to property. Insurance can provide a means of coverage and financial protection against unexpected and potentially costly events. While some types of insurance, such as health insurance, may also help protect someone's health, the primary focus is on financial protection. Supplementing income or shielding from bad decisions are not the primary purposes of insurance.

The Basic Purpose of All Insurance Is to