One of the fundamental principles of life insurance is ______
A)there is an insurer and policy holder
B)utmost good faith
C)insurable interest
D)Both (b) and (c

Question

Quizplus · Accepted Answer

Both utmost good faith and insurable interest are fundamental principles of life insurance. Utmost good faith (uberrima fides) requires both parties to act honestly and not withhold information. Insurable interest means the policyholder must have a legitimate interest in the insured's continued life.

One of the Fundamental Principles of Life Insurance Is ______