Business Studies

Scope of _______ has widened to include disability insurance, health/medical insurance, annuity insurance and life insurance proper.


ANSWER

Life insurance


SOLUTION
Scope of life insurance has widened to include disability insurance, health/medical insurance, annuity insurance and life insurance proper. In life insurance, the insurance company charges a premium which is to be paid by the insured at a certain time interval. 
According to the basis of the sum insured, the family of the insured will be paid the fixed amount after the death of the insured or at the end of a specific term.
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Single Correct Medium Published on 18th 08, 2020
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