662:“The object of every insurance contract is to place the insured as nearly as possible in the same financial position after the loss as he was before the loss. The insured is entitled to recover only the amount of loss actually suffered. The maximum amount of compensation will be up to the sum insured or the value of the policy. The insured will not be allowed to make any profit out of the happening of loss covered by insurance contract. All insurance contracts except those of life insurance are contracts of indemnity. The principle of indemnity is not applicable in case of life insurance because no amount of money can compensate for the loss of life. In case of life insurance, the sum insured is fixed and it is payable on the expiry of the policy or the death of the life insured which ever is earlier.”
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Likewise the quote you added in that edit has some grammatical errors due to missing and extra spaces. There are places where there is a space in the middle of words and there are places where space is missing between words. You may be better able to find these types of errors yourself by using the
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or are you editing both. Please revert back to me asap as I need to update the course page, so that your
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This is useful information to add but such a long quote verges on copyright violation. Please try to rephrase the essence of it in your own words.
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Please add a space to separate the end of a sentence from the start of the next. In your edit
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