Explain basic principal of insurance contract.
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The Principle of Utmost Good Faith
This is a very basic and primary principle of insurance contracts because the nature of the service is for the insurance company to provide a certain level of security and solidarity to the insured person's life.
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Answer:
1 Insurable Interset:
2 The Utmost Good Faith:
3 the Law Of Large Numbers:
4 Indemnity:
5 Subrogation:
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