principle of ____ is not applicable to life insurance
Answers
Answered by
3
Explanation:
the principle of indemnity does not apply as it is not possible to quantify the loss
Answered by
2
Answer:
contribution
Explanation:
A life cannot be indemnified. It cannot be replaced. ... Because life insurance has no principle of contribution at the time of an insured's death, life insurance companies take into consideration the amounts of life insurance an applicant already has with other companies before they approve an application.
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