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Which of the following statements regarding insurance is NOT true?
A) All types of insurance are implemented through a contractual agreement between the insurance owner and the insurer.
B) All types of insurance are based on the law of large numbers.
C) There are no physical hazards in life and health insurance.
D) All types of insurance indemnify the insured against financial loss.
Answer: There are no physical hazards in life and health insurance.
The above question Which of the following statements regarding insurance is NOT true?, Was part of Insurance MCQs & Answers. I hope you got the correct answer to your question. Have a great time ahead.
