Respuesta :

The viability and relevancy of insurance products sold to businesses and individuals by Old Mutual Is that they help businesses in the long run to maintain stability.
The insurance product is a form of expense that is paid by businesses and individuals to act as a safety net that save their financial problems if unusual things happen to them (such as accidents or natural disaster)

Answer

Insurance products protect against financial risk and property loss. They provide stability to individuals and businesses in the long run.  

Explanation

An insurance product is a type of financial arrangement in which the insurance provider agrees to pay on covered claims. In turn, the buyer pays a monthly premium. Common insurance products are life insurance, auto insurance, health insurance, home insurance, etc.  

Insurance products are bought by individuals and businesses as a form of risk management. They are used as a hedge against uncertain loss and contingency. Insurance provides a sense of security. Thus the businesses can take risks and make greater profits. Insurance products can be considered viable if they are profitable  

Further Explanation

There are a large number of financial products and tools such as savings, loans, insurance products,  and current income, etc, that can help businesses and individuals to manage risk. Among these, insurance products are the most valuable and relevant.  

If the other alternative tools and products mentioned above are accessible at a lower cost and are providing better coverage than insurance products, then in that case insurance products will not remain relevant.  

But these alternative tools are relevant only if the cost to be covered is low or the event is predictable.  So in most situations, the insurance products are relevant, as they protect individuals and businesses against potential loss on behalf of a fee which is premium. The cost of loss is transferred to the insurance provider.  

Learn more

Learn more about life insurance at: https://brainly.com/question/1373572  

(Answered by Meerkat18)

Learn more about Insurance products at: https://brainly.com/question/4685969  

(Answered by LearnGrow)

Keywords

Insurance, Risk, Security, financial loss, stability, finance, businesses, Uncertainty, profits, premium.