BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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This is the only type of insurance where the person paying for it will not get any of the benefit.
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Life insurance
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Disability insurance
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Renters insurance
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Auto insurance
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Explanation:
Detailed explanation-1: -From the given alternatives term isurance is not a type of life insurance product.
Detailed explanation-2: -Different types of general insurance include motor insurance, health insurance, travel insurance, and home insurance.
Detailed explanation-3: -The functions of insurance are risk sharing, assisting in capital formation, economic progress, etc. Lending of funds is not a function of insurance.
Detailed explanation-4: -Principle of indemnity is observed strictly for property insurance and not applicable for the life insurance contract.
There is 1 question to complete.