In respect of payment of Reversionary Bonuses, which of the following is incorrect?

A. Payable on maturity

B. Payable on death

C. Both A & B

D. Payable at any time during the term of a policy

Answer: Option C

Solution(By Examveda Team)

Reversionary Bonuses are declared regularly and paid at the end (at the time of claim), i.e. on maturity of policy or death of the person. Hence, option (3) is incorrect.