The correct answer is D. Insurance.
A contingency product is a financial product that is designed to protect against a specific risk. Insurance is a type of contingency product that provides financial protection against losses that may occur as a result of a specific event, such as death, illness, or property damage.
Bank deposits are not contingency products because they do not provide any protection against losses. Real estate is also not a contingency product because it is a tangible asset that can be sold or rented to generate income. Postal savings are not contingency products because they are a type of savings account that does not provide any protection against losses.
Insurance is a contingency product because it provides financial protection against losses that may occur as a result of a specific event. For example, life insurance provides financial protection to the beneficiaries of the insured person in the event of the insured person’s death. Health insurance provides financial protection to the insured person in the event of illness or injury. Property insurance provides financial protection to the insured person in the event of damage to or loss of property.
Insurance is a valuable tool for protecting against financial losses. It is important to choose the right type of insurance for your needs and to understand the terms and conditions of your policy.