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प्रश्न
The principle of ______ is not applicable to life insurance.
विकल्प
insurable interest
utmost good faith
indemnity
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उत्तर
The principle of indemnity is not applicable to life insurance.
Explanation:
The principle of indemnity means compensation is given only to cover the actual loss. It does not apply to life insurance because human life cannot be measured in money. Life insurance pays a fixed sum assured, not the actual financial loss suffered.
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संबंधित प्रश्न
Distinguish between the following:
Life insurance and Fire insurance
Find the odd one.
In ________ policy, several ships belonging to one owner are insured under the same policy.
Distinguish between Life Insurance and Marine Insurance.
State four life insurance policies?
Justify the following statement.
Principle of subrogation is applicable to all contracts of indemnity.
What is insurance?
Correct the underlined word and rewrite the sentence.
The person who is protected against certain losses is known as insurer.
Explain the following term/concept.
Marine Insurance
Explain the following term/concept.
Life Insurance
Explain the following term/concept.
Fire insurance
Give one word or phrase for the following sentence:
Name of the policy where several ships belonging to one owner are insured under the same policy.
Find the odd one:
Distinguish between.
Life Insurance and Marine Insurance
Distinguish between.
Life Insurance and Fire Insurance
Distinguish between Life Insurance and Fire Insurance.
Distinguish between LIfe insurance and Fire insurance.
