Multiple choice

Which of the following is not applicable in life insurance contract?

  1. Conditional contract

  2. Unilateral contract

  3. Indemnity contract

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Life insurance is a contract of assurance, not indemnity. Unlike property insurance, it does not aim to restore the insured to their exact financial position prior to a loss, as human life cannot be valued in monetary terms.

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