Which of the following is not a function of an insurance company?
Answer Details
The option that is not a function of an insurance company is "Collection of deposits from the public". Insurance companies do not collect deposits like banks, they collect premiums from policyholders. Insurance companies use the premiums collected to mobilize funds, encourage savings habits through life assurances, grant loans on a long-term basis for investment, and encourage investment by security of capital. However, they do not collect deposits from the public.