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: Option A
Solution(By Examveda Team)
The insurable interest of a mortgagor in the mortgage's life is equal to the amount of original loan.Related Questions on Insurance
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