🛡️ Insurance AwarenessIBPS and State Bank of India

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3 chapters in syllabus order, in English and Hindi.

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  • 3chapters
  • 54quiz questions
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Syllabus

Banking Insurance Awareness chapters

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From the chapter: Principles and Vocabulary of Insurance

Which of the following is NOT a contract of indemnity?

Show the answer and why

Answer: D.

A life policy pays a fixed sum assured because a life cannot be valued in money, so it is not an indemnity contract. Fire, motor own-damage and cargo policies pay the actual loss up to the sum insured and are indemnity contracts.

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