Examveda
Examveda

What is correct

A. Insurer in certain circumstances may waive subsequent premiums

B. Policy document and FPR are one and the same

C. RPRs are revival premium receipt

D. After issue of FPR subsequent premiums are to be paid by the assured

Answer: Option D

Solution(By Examveda Team)

After the issue of the FPR, the insurance company will issue subsequent premium receipts when it receives further premiums from the proposer. These receipts are known as renewal premium receipts (RPR). The RPRs act as proof of payment in the event of any disputes related to premium payment.

This Question Belongs to Commerce >> Insurance

Join The Discussion

Related Questions on Insurance