10 Questions
Who will the company pay in the event of the policyholder's death?
The nominee named in the policy schedule
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?
45 days
What is the benefit of porting a policy to another insurer?
Accrued continuity benefits in waiting periods
What is the frequency of premium payment if the insured person has opted for a half-yearly payment structure?
Half-yearly
What happens if the policyholder does not have a nominee?
The company will pay the legal heirs or legal representatives
What is the purpose of porting a policy to another insurer?
To change the insurer
What is the minimum period of continuous coverage required to get accrued continuity benefits in waiting periods?
Not specified
Who is eligible to port the policy to another insurer?
The entire family, if any
What is the consequence of the company paying the nominee or legal heirs in the event of the policyholder's death?
The company's liability under the policy is fully discharged
What is the condition for premium payment in instalments?
The insured person must opt for it as mentioned in the policy schedule
Test your understanding of insurance policy terms, including discharge of payment and moratorium period. Learn about the rules and regulations governing insurance claims and benefits.
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