Which of the following is NOT one of the four basic aspects of an insurance contract?

Question

Quizplus · Accepted Answer

The four basic aspects of an insurance contract typically include the nature of the risk covered, the amount of the premium, the amount of insurance coverage, and the duration of the protection. The designation of the beneficiary is an important element, especially in life insurance, but it is not considered one of the basic aspects of the insurance contract itself.

Which of the Following Is NOT One of the Four