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This question belongs to Commerce Insurance

Insurance

?

When is an insurance company put to real test?

A) At the point of accepting proposal B) At the time of payment of claim C) At the time of deciding sum insured D) At the time of announcement of bonuses

Answer & Solution

Correct Answer: Option D

An insurance company put is to real test at the time of announcement of bonuses. Bonus refers to an extra amount of money one receives in addition to the base amount. The same concept also holds true with bonuses payable in a life insurance policy.

Question posted by Examveda

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