GK
INSURANCE AWARENESS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
The person other than the insured or insurer who has incurred losses or is entitled to receive payment due to acts or omissions of the insured is called ____
|
|
First Person
|
|
|
Second Person
|
|
|
Third Person
|
|
|
Last Person
|
Explanation:
Detailed explanation-1: -5) The beneficiary is the person/s entitled to receive benefits of insurance and can be spouse, parents, children, siblings or business partner etc.
Detailed explanation-2: -Description: Indemnity is based on a mutual contract between two parties (one insured and the other insurer) where one promises the other to compensate for the loss against payment of premiums.
There is 1 question to complete.