Business Studies, asked by Aiman7756, 11 months ago

Why the principal of indently is not applicable in life insurance ???

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Answered by ansistkharms
5

According to the principle of indemnity, the purpose of an insurance contract is to bring back the insured to the same financial position as he or she was before the loss occurred to him or her (because of a mishap). But in case of life insurance, lifeof a person can not be brought back.

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Answered by bimlatiwary02
1

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