Life insurance contract is a verbal contract through custom and usage
Life insurance is a legally enforceable contract between the insurer and the insured, as per the Indian Contract Act, 1872
Verbal contracts, like life insurance, are enforceable
Life insurance, like a wagering contract, is a business practice
✅ The correct answer is B.
As per the Indian Contract Act, 1972, life insurance contract is a legally enforceable contract between the insurer and the insured.
As per the Indian Contract Act, 1972, life insurance contract is a legally enforceable contract between the insurer and the insured.