Identify the incorrect statement.

A. A policy has three parts viz. Policy schedule, standard provisions & special policy provisions

B. A policy is the most important document evidencing the relationship between life assured and the insurance company

C. With issue of FPR further premiums are not required to be paid

D. Any interpretation of a complex provision of the policy in case of conflict should be in favour of the assured

Answer: Option C

Solution(By Examveda Team)

With issue of FPR further premiums are not required to be paid. You do not have to pay any further premium.