UrbanPro

Take Class 11 Tuition from the Best Tutors

  • Affordable fees
  • 1-1 or Group class
  • Flexible Timings
  • Verified Tutors

Search in

Why the principle of indemnity not applicable to life insurance?

Asked by Last Modified  

Follow 4
Answer

Please enter your answer

Interested to teach to class 1 to 5 , 6 to 10 , 11&12

According to the principle of indemnity, the purpose of an insurance contract is to bring back the insured to the same financial position as he or she was before the loss occurred to him or her (because of a mishap). But in case of life insurance, lifeof a person can not be brought back.
read more
According to theprinciple of indemnity, the purpose of aninsurancecontract is to bring back the insured to the same financial position as he or she was before the loss occurred to him or her (because of a mishap). But in case oflife insurance,lifeof a person cannotbe brought back. read less
Comments

Tutor

The principle of indemnity is not applicable in case of life insurance because under life insurance, the insurer is required to pay the fixed amount agreed upon in advance in the event of death or on the expiry of the period of the policy. The reason is that the life of a person cannot be valued in terms...
read more
The principle of indemnity is not applicable in case of life insurance because under life insurance, the insurer is required to pay the fixed amount agreed upon in advance in the event of death or on the expiry of the period of the policy. The reason is that the life of a person cannot be valued in terms of money and therefore the question of compensation of actual loss does not arise. Thus, a contract of life insurance is a contingent contract or a contract of guarantee. It is not a contract of indemnity. read less
Comments

Related Questions

Why is cellular phone or cellphone called a mobile phone?
Mobile means movable or moving. Anything which is moving or can be moved is called mobile. So, when we talk about cell phone, we see that it is a communication device, it has no wire, it is not fixed,...
Mohammad
0 0
5

Hello everyone, I can teach economics and business studies of 11th and 12th class

U r welcome in the world of providing teaching services to students through this fabulous app. I'm also a Tutor of Commerce having qualifications M.Com, B.Ed, UGC-NET & HTET Qualified with additional...
Sakshi Rao
0 0
5
Discuss any three advantages of international business.
The advantages of international business are discussed below: i. Employment: International business helps in increasing employment opportunities in the export-oriented industries. ii. Growth of economy:...
Rajeev
0 0
7

Which is best business learning class in pune?

Best business school in Pune that i would refer is Symbiosis Institute of Business Management.
Priya
0 0
5

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

Recommended Articles

Appearing for exams could be stressful for students. Even though they might have prepared well, they could suffer from anxiety, tension etc. These are not good for their health and mind. However, following a few exam preparation tips can save them from all these and help them to score good marks. Let’s find out all...

Read full article >

Once over with the tenth board exams, a heavy percentage of students remain confused between the three academic streams they have to choose from - science, arts or commerce. Some are confident enough to take a call on this much in advance. But there is no worry if as a student you take time to make choice between - science,...

Read full article >

While schools provide formal education to the children, the home is where they start learning about things informally. Parents think that schools will take the initiative to educate their children. Well, this is partially true, as parents also play an essential role in bringing up their child. For the development of particular...

Read full article >

Quality education does not only help children to get a successful career and life, but it also hugely contributes to society. The formal education of every child starts from school. Although there are numerous schools, parents find it challenging to choose the right one that would fit their child. It is difficult for them...

Read full article >

Looking for Class 11 Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you
X

Looking for Class 11 Tuition Classes?

The best tutors for Class 11 Tuition Classes are on UrbanPro

  • Select the best Tutor
  • Book & Attend a Free Demo
  • Pay and start Learning

Take Class 11 Tuition with the Best Tutors

The best Tutors for Class 11 Tuition Classes are on UrbanPro

This website uses cookies

We use cookies to improve user experience. Choose what cookies you allow us to use. You can read more about our Cookie Policy in our Privacy Policy

Accept All
Decline All

UrbanPro.com is India's largest network of most trusted tutors and institutes. Over 55 lakh students rely on UrbanPro.com, to fulfill their learning requirements across 1,000+ categories. Using UrbanPro.com, parents, and students can compare multiple Tutors and Institutes and choose the one that best suits their requirements. More than 7.5 lakh verified Tutors and Institutes are helping millions of students every day and growing their tutoring business on UrbanPro.com. Whether you are looking for a tutor to learn mathematics, a German language trainer to brush up your German language skills or an institute to upgrade your IT skills, we have got the best selection of Tutors and Training Institutes for you. Read more