By taking insurance, an individual - Vidyadip

MCQ

By taking insurance, an individual

A
Reduces the risk of an accident
B
Reduces the cost of an accident
C
Transfers the risk to someone else
✓
Converts the possibility of large loss to the certainty of a small one

✓

Answer

Correct option: D.

Converts the possibility of large loss to the certainty of a small one

Converts the possibility of large loss to the certainty of a small one

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