Maharashtra State BoardHSC Commerce 12th Board Exam
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Write a Word Or Phrase Or a Term Which Can Substitute Each One of the Following: the Type of Insurance Where the Principle of Indemnity is Not Applicable - Organisation of Commerce and Management

One Line Answer
One Word Answer

Write a word or phrase or a term which can substitute  the following:
The type of insurance where the principle of indemnity is not applicable

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Solution

The type of insurance where the principle of indemnity is not applicable - Life insurance
Explanation:
According to the principle of indemnity, the insurer assures the insured that he/she will bring the insured back to the position he/she was in prior to the occurrence of an uncertain event. Because in case of life insurance, there can obviously be no compensation for the life lost, the principle of indemnity is inapplicable here.

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APPEARS IN

Micheal Vaz Organisation of Commerce and Management (OCM) HSC 12th Standard Maharashtra State Board
Chapter 2 Business Services
Write a word or phrase | Q 6 | Page 83
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