They are verbal contracts not legally enforceable
They are verbal which are legally enforceable
They are contracts between two parties (insurer and insured) as per requirements of Indian Contract Act, 1872
They are similar to wager contracts
✅ The correct answer is C.
They are contracts between two parties (insurer and insured) as per requirements of Indian Contract Act, 1872 is true about life insurance contracts.
They are contracts between two parties (insurer and insured) as per requirements of Indian Contract Act, 1872 is true about life insurance contracts.