Question: 8 . On average, the expected value of returns from each $ 1 of premiums paid on an insurance policy is less than $ 1

8 .

On average, the expected value of returns from each $

1

of premiums paid on an insurance policy is less than $

1

; this is due to the insurance company's administrative costs and profits. In spite of this fact, why do so many individuals and organizations purchase insurance policies?

8.On average, the expected value of returns from each $1 of

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