Advertisements
Advertisements
Question
Define Life Insurance.
Solution
Life insurance is a contract under which the insurance company (called the insurer) agrees to pay the specified amount (called sum assured) on the death of the insured person or upon the expiry of a specified period, whichever is earlier, in consideration of the regular premium. Life insurance is the most popular form of insurance because it plays a vital role in the lives of the public.
APPEARS IN
RELATED QUESTIONS
Write a short note on:
Fire Insurance
Hull insurance is a type of ______ insurance.
______ is a contract which the insurance company undertakes to indemnify for loss or damage caused due to accidental fire.
What do you understand by 'Health Insurance'?
What is Life Insurance?
Discuss the importance of fire insurance.
Define fire insurance.
Describe the kinds of marine insurance.
Distinguish between Insurance and Assurance.
Explain the procedure for taking a life insurance policy.
