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This question belongs to Commerce Insurance

Insurance

?

Choose the incorrect sentence out of the following ones.

A) Life Insurance policies are contracts of indemnity B) Life insurance contracts are valued contracts and not contracts of indemnity C) In Non-Life contacts there is no assurance D) There is no certainty of risk occurrence in non-Life contracts

Answer & Solution

Correct Answer: Option A

A policy of insurance on one's own life is not an indemnity because it is merely a contract to pay a certain sum in the event of death.

Question posted by Examveda

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