Multiple choice

Double Insurance is not applied to

  1. Life Insurance

  2. Fire Insurance

  3. Marine Insurance

  4. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

When the same risk is insured with two or more insurers, it is known as double insurance.Double Insurance is not applied to life insurance. As a contract of life is not a contract of indemnity and, therefore, double insurance is not applied to life insurance. A person can take any number of policies on his life and recover the full amount. For instance A takes policy of life insurance of Rs 50,000 and Rs 1,00,000 from S and T Companies respectively. On expiry of a fixed period, A can recover Rs 50,000 and Rs 1,00,000 from both the S and T Companies so it is right answer here.

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