Business Studies, asked by srushtikhadas57188, 4 months ago

legal ascpts of insurance contact types

Answers

Answered by saqueb0786

Answer:

Proposer must pay a premium which is called consideration. This premium is given in exchange of promise by Insurer to pay claim. So a contract is valid only if the Insurer accepts the application form along with premium and insurer accepts the proposal and confirms the same in writing.

Explanation:

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