ECONOMICS
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To protect others from your mistakes
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To protect your assets from claims by others
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Guard against financial loss that can not be predicted
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All of the above
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Detailed explanation-1: -Insurance plans are beneficial to anyone looking to protect their family, assets/property and themselves from financial risk/losses: Insurance plans will help you pay for medical emergencies, hospitalisation, contraction of any illnesses and treatment, and medical care required in the future.
Detailed explanation-2: -Health insurance is the single most important type of insurance you’ll ever buy. That’s because if you don’t have health insurance and something goes wrong, it’s not just your money at risk–it’s your life.
Detailed explanation-3: -A health insurance plan can offer you large financial coverage that can cover the costs of treatment in India as well as abroad. It also covers hospitalization costs, diagnosis costs, ambulance and medicine expenses, and provides the ease of instant payouts for greater financial flexibility.
Detailed explanation-4: -Provides Protection. Insurance coverage does reduce the impact of loss that one bears in perilous situations. Provides Certainty. Insurance coverage provides a feeling of assurance to the policyholders. Risk Sharing. Value of Risk. Capital Generation. Economic Growth. Saving Habits. 09-Nov-2022