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Insurable interest- the person who's taking the insurance policy (insured) must have a pecuniary interest over the subject matter (material/life that is insured). In simple, the loss of the subject matter must have a effect on the insured (he/she must face a financial loss at the time of damage/death/burglary) and at the same time, the relationship between the insured and the subject matter must be legal.
Insurable interest- the person who's taking the insurance policy (insured) must have a pecuniary interest over the subject matter (material/life that is insured). In simple, the loss of the subject matter must have a effect on the insured (he/she must face a financial loss at the time of damage/death/burglary) and at the same time, the relationship between the insured and the subject matter must be legal.
Thank you for your question! An insurable interest is not required to be present when a policy is taken out, but it is generally recommended. For example, if you purchase a life insurance policy on someone without an insurable interest, the policy may be void.
@@MagnetBrainsEducationThanku so much mam! But Mam but why it is written in ncert that in case of bulgary interest must exist at time of loss but not necessary when policy is taken? Can you please explain this with example
B. Yasmin, Thanks a lot for checking out the video and replying back. Do recommend Magnet Brains to your friends. Also do checkout the Magnet Brains website, all video lectures are organized on the site for easy access.
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Insurable interest- the person who's taking the insurance policy (insured) must have a pecuniary interest over the subject matter (material/life that is insured). In simple, the loss of the subject matter must have a effect on the insured (he/she must face a financial loss at the time of damage/death/burglary) and at the same time, the relationship between the insured and the subject matter must be legal.
Ty
Good explanation mam.... 😍
Thanks mam apka video bahot hi helpful hota h special jab ap digram se batati h to bahot hi ache se samjh ata h ❤❤🙏🙏🙏
Happy to know you found our videos helpful. More content coming soon!
Nice👍👍
Thanyu chechi
What is the disadvantages of burglary insurance??
Bennet Lonthyil, Thanks for the reply. Wherever possible, please recommend us to your friends.
Madam your teaching is excellence madam
B. Yasmin, Thanks a lot for watching the Magnet Brains videos. Please recommend us among your friends.
Thank you mam
Shraddha jha, Thank you for your comment. Do recommend Magnet Brains to your friends.
madam one video for (Banker's Indemnity insurance)....from NEPAL
Pls explain insurable intrest. ...
Insurable interest- the person who's taking the insurance policy (insured) must have a pecuniary interest over the subject matter (material/life that is insured). In simple, the loss of the subject matter must have a effect on the insured (he/she must face a financial loss at the time of damage/death/burglary) and at the same time, the relationship between the insured and the subject matter must be legal.
💗💗💗💗
Burglar insurance ka toll-free no chahiye
Why it is not necessary that insurancable interest is not necessary to be present at the time when policy is taken? Can you plz explain with example..
Thank you for your question! An insurable interest is not required to be present when a policy is taken out, but it is generally recommended. For example, if you purchase a life insurance policy on someone without an insurable interest, the policy may be void.
@@MagnetBrainsEducationThanku so much mam! But Mam but why it is written in ncert that in case of bulgary interest must exist at time of loss but not necessary when policy is taken? Can you please explain this with example
Ma’am what is pacuniry interest
Cook With spices, Thanks a lot for watching the Magnet Brains videos. Please recommend us among your friends.
What is the objective of burglary insurance
Bennet Lonthyil, Thanks for the reply. Wherever possible, please recommend us to your friends.
@@MagnetBrainsEducation could you tell the answer of this question please
@@MagnetBrainsEducation yes i will
Lol
Till now you people haven't provided the answer
Please Say in insurance irda please madam
B. Yasmin, Thanks a lot for checking out the video and replying back. Do recommend Magnet Brains to your friends. Also do checkout the Magnet Brains website, all video lectures are organized on the site for easy access.
@@MagnetBrainsEducation madam there is not there madam
Use English only.
Nice lecture, but speak only English.