Question
a.
If death occurs during lien period
b.
If the policyholder surrenders the policy
c.
If the policyholder stops paying premiums
d.
None of the above
Posted under IC22 Life Insurance Underwriting
Interact with the Community - Share Your Thoughts
Uncertain About the Answer? Seek Clarification Here.
Understand the Explanation? Include it Here.
Q. When is a reduced basic sum assured paid in a policy with a diminishing lien?
Similar Questions
Explore Relevant Multiple Choice Questions (MCQs)
Q. How does the amount of debt in a policy with a diminishing lien change over time?
View solution
Q. When does the debt in a policy with a diminishing lien get fully cancelled?
View solution
Q. What happens to the bonuses in a policy with a diminishing lien?
View solution
Q. What happens if death occurs due to accident in a policy with a diminishing lien?
View solution
Q. Why is the method of diminishing lien currently not used in India?
View solution
Q. What is the lien period in a policy with a 25% diminishing lien for 5 years?
View solution
Q. In which method of acceptance does the insurance company restrict the payout of a claim for the full cover under certain conditions?
View solution
Q. What is the purpose of the specific exclusion clause in an insurance policy?
View solution
Q. If the insured dies due to a condition that has been excluded from the policy, what does the insurance company do?
View solution
Q. What could be the consequence of issuing policies with specific exclusions and assigning them to mortgage loans?
View solution
Q. In which scenario would an insurance company not pay any claim if the person dies in an air-crash?
View solution
Q. What is the Postponement of acceptance of risk in the insurance industry?
View solution
Q. In what scenario can an underwriter take a decision to postpone a proposal?
View solution
Q. How is the proposal evaluated after the postponement period in the underwriting process?
View solution
Q. What is the benefit of postponement of acceptance of risk to the client and insurer?
View solution
Q. When can the acceptance of risk be postponed for a female applicant in the insurance industry?
View solution
Q. What is the benefit of postponing the acceptance of risk?
View solution
Q. What happens to a proposal after the postponement period?
View solution
Q. What is the reason for declining a proposal?
View solution
Q. What happens to the bonus for 'with profit' policies in case of diminishing lien, if the insured dies within the lien period?
View solution
Recommended Subjects
Are you eager to expand your knowledge beyond IC22 Life Insurance Underwriting? We've handpicked a range of related categories that you might find intriguing.
Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!
