Multiple choice

Which of the following is a contract of assurance?

  1. Fire insurance

  2. Life Insurance

  3. Marine Insurance

  4. Burglary Insurance

  5. Crop Insurance
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

 The life insurance is a contract of assurance. In life insurance the sum assured is bound to be paid sooner or later. The insurer is bound to be paid the policy amount either on the death of the insured or on the expiry of time period of policy whichever is earlier.

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