Answered

The purpose of insurance is to
○ A) protect against financial loss.
B) provide extra costs to employers.
О
C)
guarantee against medical
problems.
○ D) avoid vehicle accidents.

Verified Answer :

GinnyAnswer

Final answer:

Insurance is a financial tool that helps individuals and businesses mitigate the impact of unexpected events by sharing the risk among a group through premium payments.


Explanation:

Insurance is a method that households and firms use to prevent significant financial loss by making regular premium payments. It functions by redistributing the risk of a potential event among a pool of individuals, providing financial protection to those who suffer losses covered by the policy.


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