12. Mr. Raunak took an insurance policy against his car. But he sold the car within ab year to his friend Mr. Shobit.
The car was stolen. Mr. Rounak made a claim to Insurance Company. His claim was rejected on the ground
that Mr. Rounak was no longer owner of the car he has no financial involvement which could be insured.
A. Which principle is being followed by the insurance company?
B. Was Mr. Rounak justified in making a claim? Who should have claimed the insurance company?(3
Answers
Answer:
Transcribed image text: Subject- banking Mr. S, a soon-to-be retiree, has a life-time of savings of Rs. 50 lacs. Being in the golden period of his life, he wishes to remain risk averse while selecting an investment avenue for his savings. Preferably, he would like a product which offers regular monthly income for his choice of tenure during his retirement after investing a lump sum amount today. Suggest a suitable product to Mr. S, explaining the features of your suggestion. Also, explain the documentary procedure which he would be required to go through.
Previous question
Explanation:
Transcribed image text: Subject- banking Mr. S, a soon-to-be retiree, has a life-time of savings of Rs. 50 lacs. Being in the golden period of his life, he wishes to remain risk averse while selecting an investment avenue for his savings. Preferably, he would like a product which offers regular monthly income for his choice of tenure during his retirement after investing a lump sum amount today. Suggest a suitable product to Mr. S, explaining the features of your suggestion. Also, explain the documentary procedure which he would be required to go through.
Previous question