Option C is correct. The primary way in which insurance allows you to be covered for a loss, even if you have not had it very long in which you share the risk with others.
Further Explanation:
Insurance:
Insurance means the amount paid now can be used for the future miss happening occur. The insurance company paid the amount of loss that may have occurred. The amount of insurance premium depends on the types of insurance whether it is health insurance and property insurance.
Justification for the correct and incorrect answer:
A.
You get money from them: This option is incorrect.
If the individual does not have taken insurance policy, he is not able to get money from them. This statement is incorrect.
B.
You pay more money later: This option is incorrect.
Insurance has been taken before the loss occurred, not after the loss occurred. The amount of premium paid before the loss occurred. This option is incorrect.
C.
You share the risks with others: This option is correct.
When you do not have the insurance policy. You are able to share your risks with others. This statement is correct.
D.
Insurance helps you to avoid things:This option is incorrect.
Insurance provides the strength to face the thing that may be occurred. So this statement is incorrect.
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Answer details:
Grade: Middle School
Subject: Banking
Chapter: Insurance
Keywords:insurance, primary way, allows, covered, a loss, even, very long, get money, pay money later, share the risk, others, helps to avoid, things.
