Which of the following types of insurance is usually excluded from the principle of indemnity?
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Correct Answer: Option D
Explanation:
Life assurance is generally excluded from the principle of indemnity because the exact financial value of a person's life cannot be determined. Instead, the policy pays an agreed sum when the insured event occurs.
Life assurance is generally excluded from the principle of indemnity because the exact financial value of a person's life cannot be determined. Instead, the policy pays an agreed sum when the insured event occurs.