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12 May, 16:56

When somebody buys an insurance policy, that person is seeking to transfer risk away from herself and pass it on to the insurance company?

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  1. 12 May, 20:10
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    Exactly, when someone buys an insurance policy that person is making sure that whatever happens to him/her, there is the policy to compensate for something that will be lost. He/she is transferring the risk away and pass it on to the insurance company for safekeeping.
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