What are the four functions of insurance?
Functions of Insurance\n\n They provide certainty to the insured. They ensure the protection of the family. They are risk-sharing policies. They prevent the damages that can come from loss.
Which of the following is not function of insurance Brainly in?
Answer. Answer: Lending funds is not a function of insurance. Among the given options option (c) lending funds is the correct answer.
Which of the following is not applicable in life insurance contract?
The contract of indemnity is defined as, " A contract where one party promises to save the other from the loss caused by the conduct of the promisor himself or by the conduct of any other party." In a life insurance contract, nobody can save the life of the person. Hence, contract of indemnity does not apply here.
What is the general function of insurance?
Insurance is a contract in which an insurer indemnifies another against losses from specific contingencies or perils. It helps to protect the insured person or their family against financial loss. There are many types of insurance policies. Life, health, homeowners, and auto are the most common forms of insurance.
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