Business Studies, asked by ratan4187, 8 months ago

Life insurance dose not apply to lose compensation principle-why

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Answered by kaira199singh

Explanation:

The principle of indemnity is not applicable in case of life insurance contracts, because it is not based on the principle of compensation. The loss of life cannot be compensated by any amount of money. ... So companies make a contribution to restore the previous position of the insured

Answered by Anonymous

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