Question

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

a.

Salary certificates and salary slips

b.

Bank statements and CA certificates

c.

Audited profit and loss account and balance sheet

d.

Home loan repayment records and rent receipts

Answer: (b).Bank statements and CA certificates Explanation:In case the applied sum assured is not justifiable on the basis of income documents, bank statements, CA certificates, agricultural receipts, mutual fund statements, vehicle registration papers, home loan repayment records, rent receipts, etc., can be used to arrive at the estimated annual income of the life assured.

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

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