life insurance is a contract of?
- indemnity
- subrogation
-
benefit
- contribution
The correct answer is: C
Explanation
A life insurance policy is a contract with an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries upon the insured's death. Typically, life insurance is chosen based on the needs and goals of the owner. is a contract of benefit