Question

Explain the principles of life Insurance.

Answer 1

Seven Principles of Insurance With Examples

Principle of Uberrimae fidei (Utmost Good Faith),

Principle of Insurable Interest,

Principle of Indemnity,

Principle of Contribution,

Principle of Subrogation,

Principle of Loss Minimization, and.

Principle of Causa Proxima (Nearest Cause).