Which of the following is a non- indemnity insurance?
Answer Details
Non-indemnity insurance is an insurance policy where the insurer pays a fixed amount to the policyholder upon the occurrence of a specific event, regardless of the actual amount of loss or damage incurred. Based on this definition, the non-indemnity insurance among the options given would be life insurance, as the policyholder or beneficiary receives a fixed amount in the event of the death of the insured person. Marine, fire, burglary, and bad debts are examples of indemnity insurance, where the insurer compensates the policyholder for the actual amount of loss or damage incurred, up to the policy limit.