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What is the purpose of insurance in saving and investments?
  • a)
    To guarantee a fixed return on investment
  • b)
    To provide a source of income during retirement
  • c)
    To encourage individuals to save money
  • d)
    To protect the insured against financial loss
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What is the purpose of insurance in saving and investments?a)To guaran...
Insurance can serve as a tool for saving and investments by encouraging individuals to save money. By paying regular premiums towards an insurance policy, individuals are effectively setting aside a portion of their income for future use. This can help individuals build up a financial cushion and provide a source of funds for future expenses or investments.
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What is the purpose of insurance in saving and investments?a)To guarantee a fixed return on investmentb)To provide a source of income during retirementc)To encourage individuals to save moneyd)To protect the insured against financial lossCorrect answer is option 'C'. Can you explain this answer?
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