English IC33 Latest Paper 14

Que. 1 : A revival of the policy cannot however be an unconditional right of the insured. It can be accomplished only under certain conditions:

1.  Increase in risk for insurer   2.  No Creation of reserve   3.  Satisfactory evidence of continued insurability   4.  All of the above

Que. 2 : _______________________________: Revival of a policy cannot result in an increase in risk for the insurance company

1.  No increase in risk for insurer   2.  Creation of reserve   3.  Satisfactory evidence of continued insurability   4.  Revival application within specific time period

Que. 3 : A revival of the policy cannot however be an unconditional right of the insured. It can be accomplished only under certain conditions:

1.  No increase in risk for insurer   2.  Payment of overdue premiums with interest   3.  Satisfactory evidence of continued insurability   4.  All of the above

Que. 4 : A revival of the policy cannot however be an unconditional right of the insured. It can be accomplished only under certain conditions:

1.  Increase in risk for insurer   2.  Payment of overdue premiums with interest   3.  Satisfactory evidence of discontinued insurability   4.  All of the above

Que. 5 : A revival of the policy cannot however be an unconditional right of the insured. It can be accomplished only under certain conditions:

1.  No increase in risk for insurer   2.  Payment of overdue premiums with interest   3.  Payment of outstanding loan   4.  All of the above

Que. 6 : A revival of the policy cannot however be an unconditional right of the insured. It can be accomplished only under certain conditions:

1.  Increase in risk for insurer   2.  Payment of overdue premiums without interest   3.  Payment of outstanding loan   4.  All of the above

Que. 7 : _____________________________: The policyholder must pay such amount of premiums with interest, as would lead to creation of the same reserve it would have accumulated if the policy had not lapsed.

1.  No increase in risk for insurer   2.  Creation of reserve   3.  Satisfactory evidence of continued insurability   4.  Revival application within specific time period

Que. 8 : ______________________________: The insured must present to the insurance company satisfactory evidence of continued insurability of the insured. Not only must her health be satisfactory but other factors such as financial income and morals must not have deteriorated substantially.

1.  No increase in risk for insurer   2.  Creation of reserve   3.  Satisfactory evidence of continued insurability   4.  Revival application within specific time period

Que. 9 : ___________________________: The policy owner must complete the revival application within the time frame stated in the provision for such reinstatement. In India revival must be affected within a specific time period, say five years, from the date of lapse.

1.  No increase in risk for insurer   2.  Creation of reserve   3.  Satisfactory evidence of continued insurability   4.  Revival application within specific time period

Que. 10 : __________________: The policy owner is required to make payment of all overdue premiums with interest from due date of each premium

1.  No increase in risk for insurer   2.  Payment of overdue premiums with interest   3.  Payment of outstanding loan   4.  Revival application within specific time period

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