Some financial planners recommend that a young, single person without dependents defer purchase of life insurance. What is the basis for this recommendation in terms of the matching of risk management techniques with loss severity and frequency?

Question $14$ options:

Retention is appropriate for this low severity, low frequency exposure.

Avoidance is appropriate for this high severity, high frequency exposure.

Reduction is appropriate for this low severity, high frequency exposure.

Noninsurance transfer is appropriate for this low severity, high frequency exposure.