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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
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.
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?
Justify the following statement.
Principle of subrogation is applicable to all contracts of indemnity.
Explain the principles of insurance.
In ___________ policy subject matter is insured for specific voyage irrespective of time.
Explain the following term/concept.
Life 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?
Distinguish between Life Insurance and Fire Insurance.
Find the odd one:
What is Fire Insurance?
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
Distinguish between Life Insurance and Fire Insurance.
