select the correct answer. which statement best describes the term insurance? a. it is a protection that…

select the correct answer. which statement best describes the term insurance? a. it is a protection that guarantees to pay you in the event of losing your job. b. it is a protection that guarantees to pay you in the event of financial losses. c. it is a protection that you need to pay for when you suffer financial losses.

select the correct answer. which statement best describes the term insurance? a. it is a protection that guarantees to pay you in the event of losing your job. b. it is a protection that guarantees to pay you in the event of financial losses. c. it is a protection that you need to pay for when you suffer financial losses.

Answer

Brief Explanations:

Insurance is a financial - risk management tool. It provides compensation in case of financial losses. It's not specifically for job - loss (unemployment insurance is a different type), and the insured pays premiums regularly, not when losses occur.

Answer:

B. It is a protection that guarantees to pay you in the event of financial losses.