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प्रश्न
State with Reasons whether the following statement is TRUE or FALSE.
The principle of indemnity applies to life insurance.
विकल्प
True
False
उत्तर
The principle of indemnity applies to life insurance- False
Explanation:
According to the principle of indemnity, the insurer assures the insured that he/she will bring the insured back to the position he/she was in prior to the occurrence of an uncertain event. In case of life insurance, it is not possible for the insurer to compensate the life of the insured. Thus, the principle of indemnity is not applied to life insurance.
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संबंधित प्रश्न
Write Short Note on the following:
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Select the proper option from the options given below and rewrite the completed sentence.
Insurable interest must exist in ________.
Write a word or phrase or a term which can substitute each one of the following:
The account suitable for salaried people.
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Overdraft facility is given to a certain definite account holder.
Write a word or phrase or a term which can substitute the following:
An account holder enjoys the privileges of any number of withdrawals.
Write a word or phrase or a term which can substitute the following:
A bank, which is known as banker's bank.
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A device through which calls and messages can be sent and received
Distinguish between the following:
Road transport & Rail transport
Write Short Note on the following:
Types of life insurance policies
Write Short Note on the following:
Rail transport
State with Reasons whether the following statement is TRUE or FALSE.
Insured must have insurable interest in the subject matter at the time of taking the policy.
State with Reasons whether the following statement is TRUE or FALSE.
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Answer the following question in short:
What are the agency functions of banks?
Answer the following question in short:
What is e-banking?
