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This question belongs to Commerce Insurance

Insurance

?

The insurable interest of a mortgagor in the mortgage’s life is equal to the amount of

A) Original loan B) Outstanding loan plus interest C) Outstanding loan D) Installment due to be repaid within the next one year

Answer & Solution

Correct Answer: Option A

The insurable interest of a mortgagor in the mortgage's life is equal to the amount of original loan.

Question posted by Examveda

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