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Given below are some events that will trigger survival claims. Identify which of the below statement is incorrect?
Answer & Solution
Correct Answer:
Option
A
Claim paid on maturity of a term insurance policy will trigger survival claims. The payment by the insurer to the insured on the date of maturity is called maturity payment. The amount payable at the time of the maturity includes a sum assured and bonus/incentives, if any.
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