Principle of _______ is not applicable to life insurance.
Q.1 (A) (1) Principle of _______ is not applicable to life insurance.
A. insurable interest
B. utmost good faith
C. indemnity
1 answer
Best answer
Answer: C. indemnity
Answer: (c) indemnity
Life insurance is not a contract of indemnity because the loss of human life cannot be measured in money. The insurer pays the sum assured on death or maturity, not the actual loss. Indemnity applies to fire and marine insurance.
Doubtly AI
· 28 Oct 2026
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