Question

Who can claim the benefits of policies taken under the MWP Act?

a.

The legal heirs of the life assured

b.

The creditors of the life assured

c.

The employer of the life assured

d.

None of the above

Posted under IC22 Life Insurance Underwriting

Answer: (d).None of the above Explanation:The policies taken under the MWP Act cannot be claimed by the other legal heirs or the husband's creditors, nor can the husband claim any benefit. The beneficiaries declared at the time of policy issuance are the only ones entitled to the benefits.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. Who can claim the benefits of policies taken under the MWP Act?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What is the difference in beneficiary specification for Mohammedan and Non-Mohammedan proposers under the MWP Act?

View solution

Q. How can the cover amount for a policy issued under the MWP Act be determined?

View solution

Q. What is the starting point for financial underwriting?

View solution

Q. For small to moderate insurance covers, what information is sufficient for an underwriter?

View solution

Q. For business insurance, which of the following documents are required?

View solution

Q. How long of a salary slip history should be provided to estimate a steady and realistic income?

View solution

Q. For which type of insurance covers is very little financial underwriting required?

View solution

Q. What is required for business insurance?

View solution

Q. What financial documents are required for self-employed applicants/professionals?

View solution

Q. What is the basic financial document required for all cases?

View solution

Q. What is the standard income document required for salaried applicants?

View solution

Q. Which document can be used to estimate the annual income of the life assured in case the applied sum assured is not justifiable based on income documents?

View solution

Q. What is the standard document required for Keyman insurance?

View solution

Q. What is the standard document required for Partnership insurance?

View solution

Q. What are the basic financial document requirements for all cases?

View solution

Q. Which set of financial documents is required for high sum assured cases?

View solution

Q. What can be used to arrive at the estimated annual income of the life assured?

View solution

Q. What are the standard documents required for Keyman insurance?

View solution

Q. What are the standard documents required for Partnership insurance?

View solution

Q. What are the standard documents required for Married Women Property Act?

View solution
View All MCQs on IC22 Life Insurance Underwriting

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!

Basic Electrical Engineering

Master the fundamentals of Electrical Engineering with our specialized category....

IC38 Life Insurance Agent Exam

Prepare for success in the Insurance Institute of India (III) IC38 IRDA examination...

General Knowledge

Expand your horizons and stay informed about the world with our General Knowledge...

Enzyme Technology

Unlock the power of enzymes with our Enzyme Technology category. Explore enzyme...

Logical Reasoning

Enhance your logical thinking and decision-making abilities with our Logical...

Mass Transfer

Delve into the science of Mass Transfer with our specialized category. Explore...

Molecular Biology

Dive into the intricate world of molecular biology with our specialized category....

Biotechnology

Discover the cutting-edge world of biotechnology with our Biotechnology category....

Corrosion Engineering

Master the art of preventing material deterioration with our Corrosion Engineering...