5 difference between life insuarance and fire insuarance
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Explanation:
Life Insurance: Life insurance policy is generally of longer period (more than 5 years). Fire Insurance: Short period. Generally of one year. Life Insurance: While taking life insurance policy, insurable interest must exist
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Answer:
Life insurance is a risk is certain. The insured amount is paid either on maturity period or at the death of policy holders.
Fire insurance risk is not certain in fire insurance. The insurance property may catch fire.
Explanation:
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