A reason for purchasing insurance is to

Name: A reason for purchasing insurance is to
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The purpose of insurance is to spread out risk among groups of people. By pooling premiums from many individuals, insurance companies are able to pay out to those who experience losses or damages, without any one person having to bear the full financial burden. This allows individuals to mitigate the potential financial impact of unforeseen events.

A Reason for Purchasing Insurance Is to