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Question
List any two functions of insurance.
List any two functions of insurance.
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Solution
The functions of insurance are:
(i) Insurance provides protection from risks and payable chances of loss.
(ii) Insurance provides certainty of payment for the risk of loss.
The functions of insurance are:
(i) Insurance provides protection from risks and payable chances of loss.
(ii) Insurance provides certainty of payment for the risk of loss.
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