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Question

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Under what principle of insurance, a man can take life insurance policy for his spouse or for his/her child, but he/she cannot take insurance policy for a stronger ?

Solution

Under principle of insurable interest.

Some More Questions From Business Services Chapter

Define insurance.

Define life insurance.

What do you mean by Fire Insurance ?

What do you mean by Marine Insurance ?

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.

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