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Which statement best explains Life insurance?

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Question ID #26088 UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Insurance Sectional Test 2026 Medium

Correct Answer: A. Insurance covering risks associated with human life
Life insurance: Insurance covering risks associated with human life

Question: Which statement best explains Life insurance?

A. Insurance covering risks associated with human life

B. Entity that undertakes insurance risk

C. Insurer's right, after paying a loss, to pursue recovery from a responsible third party

D. Risk-transfer arrangement under which an insurer provides financial protection in return for premium

Correct Answer: A. Insurance covering risks associated with human lifeLife insurance: Insurance covering risks associated with human life

Which statement best explains Life insurance? - MCQ Explanation

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Correct answer: A. Insurance covering risks associated with human life