Business Studies

Fill in the blanks with suitable words in the following incomplete sentences.
The insurance that covers the life is called ______.


SOLUTION
Life insurance:- 
A life insurance contract is a contract whereby the insurer i.e. the insurance company undertakes to pay a specific sum on the death or after the expiry of the specified period, whichever is earlier, to the insured or his beneficiary for a premium.
In this type of insurance the subject matter of the contract is the life of a person. The premium may be paid in lump sum or in installment.
View Answers

You're just one step away


Subjective Medium Published on 18th 08, 2020
Next Question
Questions 244558
Subjects 8
Chapters 125
Enrolled Students 346
Enroll Now For FREE

Realted Questions

Q1 Subjective Medium
Write short notes on the following:
Secondary Functions of bank.

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q2 TRUE/FALSE Medium
State the following statement is True or False:
Policy is the document which contains the terms and conditions of contract.
  • A. True
  • B. False

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q3 Subjective Medium
What do you mean by 'Insured' and 'Insurer'?

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q4 TRUE/FALSE Medium
State whether the following statement is True or False.
Courtesy is one of the requisites of a good business letter.
  • A. True
  • B. False

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q5 Subjective Medium
Fill in the blanks with suitable words in the following incomplete sentences.
The insurance that covers the life is called ______.

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer