The basic purpose of insurance is to protect you from the results of accidental losses.

Question

Quizplus · Accepted Answer

Insurance is a contract between an individual and an insurance company whereby the individual pays a premium in exchange for protection against financial loss due to unexpected events, such as accidents, illness, property damage, or death. Therefore, the basic purpose of insurance is to safeguard individuals and their families from the potential consequences of accidental losses.

The Basic Purpose of Insurance Is to Protect You from the Results