Principle of indemnity means that the insurer is supposed to bring the insured the same financial position as he was before the happening of the uncertain event. For eg. car worth ₹1,00,000 insured for full value. If it flows away in the river the loss is also to the full value . Therefore the company will pay the insured the full claim of ₹1,00,000 thus bringing the insured in the same financial position as he was earlier ( no loss at all , not even of ₹1 ). But , life cannot be valued in terms of money , ( exception : I'm worth undefined ) and hence a company cannot bring the legal nominee the value of the deceased or his life. Therefore , priciple of indemnity is not applicable to Life Insurance Contract.

Explanation:
In life insurance contracts, the following types of contracts are applicable:

1. Unilateral Contracts:
In a unilateral contract, only one party has made a promise or an agreement. In the context of life insurance, the insurer promises to pay a certain sum of money to the beneficiary upon the death of the insured. The insured does not have any obligation to fulfill in this contract other than paying the premiums. Therefore, unilateral contracts are applicable in life insurance contracts.

2. Conditional Contracts:
A conditional contract is a type of contract where certain conditions must be met for the contract to be binding. In life insurance, the conditions may include the payment of premiums, the accuracy of the information provided by the insured, and the occurrence of the insured event (death). If these conditions are met, the contract becomes valid and the insurer is obligated to pay the death benefit. Therefore, conditional contracts are applicable in life insurance contracts.

3. Indemnity Contracts:
An indemnity contract is a contract where one party promises to compensate the other party for any loss or damage suffered. In the context of life insurance, the insurer promises to compensate the beneficiary for the financial loss suffered due to the death of the insured. The amount of compensation is usually equal to the sum assured in the policy. Therefore, indemnity contracts are also applicable in life insurance contracts.

Conclusion:
Based on the above explanations, it can be concluded that all the options listed (unilateral contracts, conditional contracts, and indemnity contracts) are applicable in life insurance contracts. Therefore, option 'A' (Indemnity contract) is not the correct answer.