BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The main purpose of having Life insurance is:
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As an avenue for long-term investment
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As a medium for getting income tax benefits from savings
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As a governmental programme for reducing poverty
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As an avenue for short-term investment
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None of the above
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Explanation:
Detailed explanation-1: -Why is life insurance important? Buying life insurance protects your spouse and children from the potentially devastating financial losses that could result if something happened to you. It provides financial security, helps to pay off debts, helps to pay living expenses, and helps to pay any medical or final expenses.
Detailed explanation-2: -Insurance is a way to manage your risk. When you buy insurance, you purchase protection against unexpected financial losses. The insurance company pays you or someone you choose if something bad happens to you. If you have no insurance and an accident happens, you may be responsible for all related costs.
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