Question

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?

a.

Partnership questionnaire

b.

Bank statements

c.

Memorandum of Association

d.

Keyman questionnaire

Posted under IC22 Life Insurance Underwriting

Answer: (b).Bank statements Explanation:Bank statements 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.

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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?
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