The purpose of insurance to the insured individual is:

Question

Quizplus · Accepted Answer

The purpose of insurance to the insured individual is to make them whole and restore them to their original financial position. Insurance protects and provides for individuals in the occurrence of pure risk where there is the possibility of loss only. When individuals purchase insurance policies, they do so with the intention of using the insurance proceeds to restore things back to the way they were, not to create or provide financial gain or profit.

The Purpose of Insurance to the Insured Individual Is