In which type of contract, the happening of event is certain but its timing is not known?

The correct answer is: A. Life Insurance

In a life insurance contract, the insured pays a premium to the insurer in exchange for a promise to pay a death benefit to a designated beneficiary upon the death of the insured. The happening of the event (death) is certain, but its timing is not known.

General insurance, on the other hand, covers a wide range of risks, such as property damage, theft, and liability. The happening of the event (e.g., a fire) is not certain, but its timing may be more predictable than in the case of life insurance.

Therefore, the only type of contract in which the happening of the event is certain but its timing is not known is life insurance.