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This question belongs to Commerce Insurance

Insurance

?

Which one of the following statements is correct?

A) In a limited payment policy, there is a maximum limit to the SA B) In a limited payment policy, there is a maximum limit to the term C) Both the statements above are wrong D) Both the statements above are correct

Answer & Solution

Correct Answer: Option C

30 yrs is the maximum period for which most companies offer term insurance plans to individuals. The minimum insurance term is usually 10 years. 65 yrs is the maximum age till which most insurance companies offer life cover under term plans.

Question posted by Examveda

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