Advertisements
Advertisements
प्रश्न
The principle of ______ is not applicable to life insurance.
पर्याय
insurable interest
utmost good faith
indemnity
Advertisements
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.
APPEARS IN
संबंधित प्रश्न
Distinguish between the following:
Life insurance and Fire insurance
Explain the types of Life Insurance Policies?
In ________ policy, several ships belonging to one owner are insured under the same policy.
Explain the following term/concept.
Insurance
Study the following case/situation and express your opinion.
| Mr Jagan is a salaried person. He wants to take policy for his two children which assures them protection as well as completes their financial needs once they become major by age. |
- Suggest him a policy which can satisfy the requirements of his children.
- Who are beneficiaries of policy?
- In the above case which principle is involved?
Distinguish between Life Insurance and Marine Insurance.
Justify the following statement.
Principle of subrogation is applicable to all contracts of indemnity.
Explain the principles of 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.
Fire insurance
Study the following case/situation and express your opinion.
Mr. Sadagopan is a businessman he has two factories in Indore and Bhopal. He lives in Bhopal with his wife and two daughters aged 5 and 8 years.
- Can Mr. Sadagopan take life insurance policy for two children?
- Is child insurance is suitable for a wife of Mr. Sadagopan?
- Which type of insurance should Mr. Sadagopan take for protecting his factories from loss due to fire?
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.
Distinguish between Life Insurance and Fire Insurance.
Find the odd one:
Explain the following term/concept:
Insurable Interest
What is Fire Insurance?
Distinguish between.
Life Insurance and Fire Insurance
Life Insurance and Fire Insurance.
