Which of the below party is not eligible to enter into a life insurance contract?

A. Business owner

B. Minor

C. House wife

D. Government employee

Answer: Option B

Solution(By Examveda Team)

Minor is not eligible to enter into a life insurance contract. However, although a minor child has insurable interest in the life of his/her earning parents, but children can't take insurance for parents because, as a minor, a child can't enter into a contract.