Pick out the incorrect statement.

A. As per law if the premium, for three years, it shall earn a guaranteed surrender value

B. With discontinuance of premium even after three years no surrender value is guaranteed

C. The special revival of a lapsed policy is convenient both from the assured point of view and that of the insurer

D. The most important condition for a policy lapsed for a considerable length of time is evidence of insurable interest

Answer: Option B

Solution(By Examveda Team)

With discontinuance of premium even after three years amount of surrender value is guaranteed.