Which principle is not related to life insurance?
In the case of life insurance policies, the principle of indemnity does not apply. The indemnity principle means that the policy payout should restore the insured to the same financial position in which he was before the loss happened.
Which of the following principles applies to a life insurance contract?
In the insurance world there are six basic principles that must be met, ie insurable interest, Utmost good faith, proximate cause, indemnity, subrogation and contribution.
Which of the following is not applicable is life insurance contract?
Answer: Indemnity contract is not applicable in life insurance contract. Among the given options option (c) Indemnity contract is the correct answer.
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