Difference Between Insurance and Assurance

   Insurance and assurance are quite similar, but there are thin lines of difference between them, as the insurance provides protection to t...

Insurable Interest in Life insurance Classification of Insurable Interest in Life insurance (Insurance Law)

              The test of a valid insurance contract is the existence of the insurable interest. Insurable interest is nothing but an inter...

Objective Type Questions on Insurance Contract (Insurance Law )

Multiple Type Questions and Answer...(Insurance Law) 1. Choose the correct option... A. In an insurance contract, an insurer makes ...

Meaning and definition of Premium (Insurance Law)

Introduction - Insurance is a Contract, there are two parties in the contract of Insurance, Insurer and Insured. The insured gives pre...

Explain the concept and scope of life insurance what are the essentials of life insurance contract?

Introduction -                Insurance is a contract in which one party (the insurer) agrees for payment of consideration (the premium) ...