Question

What is the role of insurance companies in defining the conditions for which the critical illness rider is payable?

a.

To define the conditions loosely to avoid medicolegal disputes

b.

To define the conditions very accurately and tightly to avoid medicolegal disputes at claim-stage

c.

To define the conditions only after the diagnosis

d.

None of the above

Posted under IC22 Life Insurance Underwriting

Answer: (b).To define the conditions very accurately and tightly to avoid medicolegal disputes at claim-stage Explanation:The definitions of the conditions for which the critical illness rider is payable has to be very accurately and tightly defined by insurance companies to avoid medicolegal disputes at claim-stage.

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Q. What is the role of insurance companies in defining the conditions for which the critical illness rider is payable?
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