Concept:Life insurance is a contract of assurance, not a contract of indemnity.
Explanation:A contract of indemnity pays compensation only for the actual financial loss suffered by the insured.
Burglary insurance, fire insurance, and motor insurance all fall under contracts of indemnity because they reimburse the actual loss incurred.
In life insurance, the insurer pays the agreed sum assured on death or on maturity of the policy.
This payment is not based on any actual monetary loss, because a human life cannot be valued in monetary terms.
Therefore, life insurance does not satisfy the principle of indemnity.
Among the given options, only life insurance is not a contract of indemnity.
Answer:C. life insurance