ICSE Class 10 Commerce 2022 Solved Papers
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Question : 16
Total: 29
What is Life Insurance?
Solution:
Life Insurance is a contract under which the insurance company (called insurer) agrees to pay the specified amount (called sum assured) on the death of the insured person or upon the expiry of a specified period whichever is earlier in consideration of regular premium. Life Insurance is the most popular form of insurance because it plays a vital role in the life of public.
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