What is the fundamental purpose of term insurance as a financial product? Option: "To mitigate the financial risk of premature death", "To generate investment income", "To cover property damage and liability", "To provide retirement savings"

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What is the fundamental purpose of term insurance as a financial product?

"To mitigate the financial risk of premature death"

"To generate investment income"

"To cover property damage and liability"

"To provide retirement savings"

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What is the primary reason people choose to invest in life insurance?

"To supplement retirement savings"

"To protect loved ones financially"

"To achieve long-term financial goals"

"To receive tax benefits"

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What is the primary purpose of life insurance?

"To encourage a habit of saving money

"To provide a guaranteed return on investment"

"To provide financial security to the insured's family in case of death"

"To offer tax benefits under section 80C"

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What is the primary purpose of life insurance?

"It guarantees a high return on investment, similar to stocks."

"It provides a financial safety net for your loved ones in case of your death."

"It replaces the need for savings and emergency funds."

"It serves as a tax-saving tool for high-income earners."

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What is the primary purpose of life insurance?

To supplement retirement income

To provide a lump sum payment to beneficiaries upon the insured's death

To cover medical expenses

To protect against disability

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How does term insurance help families?

It helps families maintain their lifestyle without financial worry in case of the policyholder's death.

It covers education expenses for children.

It offers investment options to grow family wealth.

It provides a source of income for surviving family members.