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This question belongs to Commerce Insurance

Insurance

?

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 & Solution

Correct Answer: Option B

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

Question posted by Examveda

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