Insurance Policy Terms and Conditions
10 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Who will the company pay in the event of the policyholder's death?

  • The policyholder's agent
  • The nominee named in the policy schedule (correct)
  • The policyholder's doctor
  • The policyholder's employer
  • What is the minimum number of days before the policy renewal date that the insured person must apply to port the policy to another insurer?

  • 90 days
  • 60 days
  • 30 days
  • 45 days (correct)
  • What is the benefit of porting a policy to another insurer?

  • A higher sum insured
  • A discounted premium
  • Accrued continuity benefits in waiting periods (correct)
  • A longer policy tenure
  • What is the frequency of premium payment if the insured person has opted for a half-yearly payment structure?

    <p>Half-yearly</p> Signup and view all the answers

    What happens if the policyholder does not have a nominee?

    <p>The company will pay the legal heirs or legal representatives</p> Signup and view all the answers

    What is the purpose of porting a policy to another insurer?

    <p>To change the insurer</p> Signup and view all the answers

    What is the minimum period of continuous coverage required to get accrued continuity benefits in waiting periods?

    <p>Not specified</p> Signup and view all the answers

    Who is eligible to port the policy to another insurer?

    <p>The entire family, if any</p> Signup and view all the answers

    What is the consequence of the company paying the nominee or legal heirs in the event of the policyholder's death?

    <p>The company's liability under the policy is fully discharged</p> Signup and view all the answers

    What is the condition for premium payment in instalments?

    <p>The insured person must opt for it as mentioned in the policy schedule</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Browser