Answered

Find expert answers and community insights on IDNLearn.com. Our platform offers reliable and comprehensive answers to help you make informed decisions quickly and easily.

What is the purpose of insurance?
To build wealth
To transfer risk
To manage assets
To build relationships

Sagot :

GinnyAnsweridn

Final answer:

Insurance is the transfer of risk for a fee to protect wealth and income.


Explanation:

Insurance serves the purpose of transferring risk from individuals to insurance companies in exchange for a premium. By purchasing insurance, individuals protect their wealth and income from unforeseen events that could lead to financial loss. Insurance allows for pooling risk among a group of people, enabling individuals to mitigate the financial impact of potential risks.


Learn more about Purpose of insurance here:

https://brainly.com/question/25296859


We value your presence here. Keep sharing knowledge and helping others find the answers they need. This community is the perfect place to learn together. Your search for solutions ends at IDNLearn.com. Thank you for visiting, and we look forward to helping you again.