Question

What is the ultimate objective of insurance covers offered on a commercial basis by the insurance industry?

a.

To maximize profits for insurance companies

b.

To benefit individual policyholders only

c.

To provide social security

d.

To compete with government-sponsored schemes

Answer: (c).To provide social security Explanation:The ultimate objective of insurance covers offered on a commercial basis by the insurance industry is to provide social security.

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Q. What is the ultimate objective of insurance covers offered on a commercial basis by the insurance industry?

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