Multiple choice

Contract of Indemnity is not applied to

  1. Fire Insurance

  2. Marine Insurance

  3. Life Insurance

  4. Travel Insurance
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

 Right answer Because the life insurance is not a contract of indemnity, because life cannot be indemnified and the amount for which policy is taken is  recoverable. It is a contingent contract. For instance a policy is taken by Mr W of Rs 2 lakhs and he dies the whole amount of Rs 2 lakhs is recoverable.

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