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Principle of indemnity

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Principle of indemnity

Posted by Arushi Chaudhary 6 years, 9 months ago

CBSE > Class 11 > Business Studies

1 answers

Devika Shaji 6 years, 9 months ago

Indemnity means that insured will be paid only the actual amount of loss and not exceeding the policy.However this is not applicable on the case of life insurance because loss due to death of insured cannot be measured in terms of money and money cannot be substitued as compensation for loss of life

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