Q413
What is the primary purpose of a life insurance product?
A.
Tax rebates
B.
Safe investment avenue
C.
Protection against the loss of economic value of an individual’s productive abilities
AnswerD.
Wealth accumulation
Answer: Option C
Solution
Answer: Option C
Solution:
Protection against the loss of economic value of an individual’s productive abilities is the primary purpose of a life insurance product. The primary purpose for purchasing life insurance is to provide financial stability to beneficiaries in the event of the insured's death.