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Business Services
Question
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When should insurable interest be present in case of life insurance policy ?

Answer

In case of life insurance policy, the insurable interest must be present at the time of taking policy.

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Some More Questions From Business Services Chapter

Define communication.

What do you mean by the term transportation ?

What do you mean by the term warehousing ?

What do you mean by Public Warehouse ?

What is meant by cold storage houses ?

Explain any three considerations which a business firm should take into account for choosing a suitable mode of transport.

Under the principle of subrogation, why does the right of ownership of damaged property pass on to the insurer after the compensation has been paid to the insured ?

How does the insurance distribute the loss ?

What do you mean by specialised banks ? Give three examples of specialised banks.

Write down the types of postal services.