An insurance policy serves as a contract between the insurer and the insured. Which of the following statements best describes the primary functions of an insurance policy?

A、Itguaranteesaprofittotheinsuredwhileminimizingtheirfinancialrisks.
B、Itoutlinestheobligationsandrightsofbothparties,ensuringfinancialprotectionagainstspecifiedrisks.
C、Itissolelyalegaldocumentthatservesnopracticalpurposeinriskmanagement.
D、Itallowstheinsurertocollectpremiumswithoutanyobligationtoprovidecoverage.