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This question belongs to Commerce Insurance

Insurance

?

What is defined an early claim?

A) Whenever the claim arises before the end of the policy term it is an early claim B) If the claim arises after 5 years, it is an early claim C) All death claims are early claims D) A claim by death within three years of commencement

Answer & Solution

Correct Answer: Option D

A claim by death within three years of commencement is defined as an early claim. When a person with a life insurance policy – called a life assured – dies, a claim intimation should be sent to the insurance company as early as possible.

Question posted by Examveda

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