A. indemnity
B. subrogation
C. benefit
D. contribution
Correct Answer: Option C
C. benefit
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
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