Which of the following statements about insurance is true? Select the correct answer $($only one statement is correct$)$

Question $10$Answer

a$.$

Term life insurance accumulates cash value over time, which the insured can borrow against or invest.

b$.$

Life insurance premiums are generally the same for individuals regardless of age and health conditions.

c$.$

Homeowners insurance provides coverage for the home but does not provide any liability coverage in case someone is injured on the property.

d$.$

Insurance provides a financial safety net, protecting individuals and entities from major financial losses by offering compensation or reimbursement against losses as per the policy.

e$.$

Auto insurance is optional and not mandated by law in most places