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This question belongs to Commerce Insurance

Insurance

?

Who gets benefited if a policy is lapsed?

A) Insurer B) Insured C) Both Insurer & Insured D) None of the above

Answer & Solution

Correct Answer: Option D

A lapsed policy means that the benefit of insurance will not be available to protect the financial interest of the dependants in the event of the death of the insured.

Question posted by Examveda

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