Insurance · Life Insurance Concepts
A life insurance contract is not a contract of indemnity because:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The policy is a long-term savings instrument
- 2The nominee receives the benefit instead of the insured
- 3The premium of the policy is fixed throughout
- 4Loss of human life cannot be measured exactly in monetary terms✓
Correct answer
Loss of human life cannot be measured exactly in monetary terms
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