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What is the basic purpose of insurance is to provide?

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What is the basic purpose of insurance is to provide?

Enquiry is from why does insurance often provide peace of mind

The question was asked in an internship interview.

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The correct answer is: The basic purpose of all types of insurance is to protect you and your dependents from the financial consequences of losing assets or income when an accident, illness, or death occurs.

The title of my answer is finance final- chapter 8 Flashcards

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