Question

name & Explain the principal of Insurance
violated in the following cases:
a)Rajeev did not disclose about his heart diseases
while taking Life Insurance with Rs 50 Lakhs
b)Manoy did not ake any effort to save the goods
from the flood mater as he has taken asurance
to these goods​

Answer 1

Answer:

may this help you

Explanation:

The principle of indemnity is not applicable in case of life insurance because under life insurance, the insurer is required to pay the fixed amount agreed upon in advance in the event of death or on the expiry of the period of the policy. ... It is not a contract of indemnity.