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Questions and Answers
What is the coverage usually limited to once the insurer gives the client the conditional premium deposit receipt?
What is the coverage usually limited to once the insurer gives the client the conditional premium deposit receipt?
- Illness only
- Accidental death only (correct)
- Natural death only
- Death during natural disasters
What is the legal limit on the amount of insurance that an individual can take on his life?
What is the legal limit on the amount of insurance that an individual can take on his life?
- S$5 million
- S$1.5 million
- There is no legal limit. (correct)
- S$2 million
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Study Notes
Conditional Coverage
- Begins when the insurer provides the client with a conditional premium deposit receipt.
- Limited to accidental death only.
Here are the study notes for the text above:
Insurance Limitations
• No legal limit: The policy does not have a legal limit on the amount of insurance that an individual can take up on his life.<|start_header_id|>assistant<|end_header_id|>
Insurance Limitations can reduce fraud risk
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