The purpose of insurance is to help protect you and your family against financial hardship due to hazard, accident, death, and the like.

Question

Quizplus · Accepted Answer

Insurance provides financial protection to individuals and families in case of unforeseen events such as accidents, illness, death, natural disasters, and other types of hazards. It helps to absorb the financial impact of the loss, thereby preventing a significant financial burden on the insured or their dependents. Therefore, the statement that the purpose of insurance is to help protect you and your family against financial hardship due to hazard, accident, death, and the like is true.

The Purpose of Insurance Is to Help Protect You and Your