An insurance policy which is not a contract of indemnity is
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Correct Answer: Option C
Explanation:
Life insurance is not a contract of indemnity because the exact financial value of a person's life cannot be measured and restored after death. The insurer pays the agreed sum assured rather than simply compensating for the exact financial loss.
Life insurance is not a contract of indemnity because the exact financial value of a person's life cannot be measured and restored after death. The insurer pays the agreed sum assured rather than simply compensating for the exact financial loss.