Mr. Suresh has purchased a Life Assurance Policy, so that, His Family-Members do not have to depend on Any-One, in Case of His Un-Timely Death. Identify the Risk-Management Technique, practiced here.
A)Risk-Avoidance
B)Risk-Retention
C)Risk-Transfer
D)Risk-Reduction and Risk- Control

Question

Quizplus · Accepted Answer

Mr. Suresh is practicing risk transfer by purchasing a life assurance policy, transferring the financial risk associated with his untimely death to the insurance company.

Mr Suresh Has Purchased a Life Assurance Policy, So That