Question

What happens if a customer is unable to provide the required information within the stipulated time?

a.

The insurance company cancels the application and keeps the money

b.

The insurance company cancels the application and refunds the money

c.

The insurance company approves the application without the required information

d.

The insurance company holds the application until the required information is provided

Answer: (b).The insurance company cancels the application and refunds the money Explanation:In cases where the customer is unable to comply with the required information within the stipulated time, the application for insurance is cancelled and the money is refunded to the client as mandated in the regulatory guidelines.

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Q. What happens if a customer is unable to provide the required information within the stipulated time?

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