Assam ASSEB HS Class 11-12 Insurance Practice Questions - Assam State School Education Board (ASSEB AHSEC) Higher Secondary Insurance Examination Exam

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According to the principle of Insurable Interest, when must insurable interest exist in a Life Insurance contract in India?

Only at the time when the loss/death occurs At the time of taking the policy, but not necessarily at the time of claim Continuously at every monthly premium payment date Insurable interest is not required at all for life insurance

Correct Answer:

At the time of taking the policy, but not necessarily at the time of claim

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