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Question
Mr. Mohan/Shah took a health insurance policy for Rs. 2 lakhs without disclosing proper facts. After three years, he was admitted in hospital due to acute tuberculosis. During investigation it was found that he had been a chain smoker for the past five years.
- Will he be able to claim health insurance? Why?
- Identify the Principle of insurance.
Very Short Answer
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Solution
- No. He did not disclose material facts to the insurance company.
- Utmost Good Faith.
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Chapter 13: Logistics and Insurance - EXERCISES [Page 251]
