Question

Which of the following is not a function of insurance?
a. Risk sharing
b. Assist in capital formation
c. Lending of funds
d. None of the above

Answer 1

Answer:

Lending funds is not a function of insurance.

Among the given options option (c) lending funds is the correct answer.

Explanation:

The main functions of insurance are : Protection,  Risk sharing , Asset in  capital formation,  Providing certainty.  

There are two parties in the insurance contract insurer and insured. It is a system which secure the life and property from expected risk.

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Answer 2

❤here's your answer❤

C. lending of funds

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