Multiple choice technology testing

Life Insurance is a contract of Indemnity

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Life insurance is a valued policy contract, not an indemnity contract. The benefit amount is fixed at policy inception (face value), unlike property insurance where reimbursement is limited to documented financial loss. Human life cannot be objectively valued for indemnity purposes.

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