Match List I with List II

List I Insurance contracts		List II Presence (time) of insurable interest
(A)	Marine insurance	(I)	Both at the time of contract as well at the loss of subject matter
(B)	Life insurance	(II)	Throughout the contract of insurance
(C)	Fire insurance	(III)	At the time of loss of the subject matter
(D)	General insurance	(IV)	At the time of insurance contract effected

Choose the correct answer from the options given below: 

The correct answer is A - III, B - IV, C - I, D - II.

Key Points

• Marine Insurance:
  • This insurance covers damage or loss of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination.
  • It's crucial for businesses involved in shipping or receiving goods by sea.
• Life Insurance:
  • This insurance provides a monetary benefit to a person's dependents or nominated beneficiaries if that person dies.
  • It's a contract between a policyholder and an insurer, where the insurer promises to pay a designated sum of money upon the policyholder's death.
  • It's a way for people to offer financial support to loved ones after they're gone.
• Fire Insurance:
  • This insurance covers damage or loss to a property because of a fire.
  • It can cover the cost of repair or even rebuilding depending on the specifics of the policy.
  • It gives property owners a financial safety net if a fire damages their property.
• General Insurance:
  • General insurance is a broad term for insurance policies other than life insurance.
  • It includes things like motor insurance, health insurance, travel insurance, and home insurance.
  • These policies provide payments depending on the loss from a particular financial event.