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प्रश्न
The principle of ______ is not applicable to life insurance.
पर्याय
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
Explain the types of fire insurance policies.
Find the odd one.
In ________ policy, several ships belonging to one owner are insured under the same policy.
Answer in one sentence.
What is 'subject matter' in insurance?
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?
Mr. Amit is a businessman. He has his own factories in Pune and Nashik. He lives in Pune with his wife and 2 daughters aged 5 and 8 years.
- Can Mr. Amit take a life insurance policy for his wife and 2 children?
- Can Mr. Amit take a marine insurance policy for his factories?
- Which type of insurance should Mr. Amit take for protecting his factories from loss due to fire?
State four life insurance policies?
What is insurance?
Explain the principles of insurance.
Match the correct pairs.
| Group A | Group B |
| A. Sprinkler policy | 1. provides a regular percentage of the sum assured |
| B. Child insurance | 2. marketing |
| C. Money back policy | 3. demand made by insured to insurer for loss occurred due to mishap |
| D. Claim | 4. profit |
| E. Insurance | 5. proposal |
| 6. protection from financial loss | |
| 7. for voyage | |
| 8. ULIP | |
| 9. suitable for children | |
| 10. fire insurance |
Correct the underlined word and rewrite the sentence.
The person who is protected against certain losses is known as insurer.
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.
Explain the following term/concept:
Insurable Interest
What is Fire Insurance?
Distinguish between Life Insurance and Marine Insurance.
Distinguish between Life Insurance and Fire Insurance.
