Question

What are the standard documents required for Partnership insurance?

a.

Audited profit and loss account and balance sheet

b.

Partnership questionnaire and copy of income tax returns

c.

Addendum and bio-data of the key person

d.

Copy of board resolution and deed of partnership

Posted under IC22 Life Insurance Underwriting

Answer: (b).Partnership questionnaire and copy of income tax returns Explanation:The standard documents required for Partnership insurance are copy of deed of partnership duly attested by the partner authorised to sign the insurance proposal, audited profit and loss account and balance sheet of the partnership firm along with a schedule of the partners' capital account, copy of income tax returns of the partnership firm, and partnership questionnaire duly signed and stamped by the authorised signatory of the partnership firm and countersigned by the life to be assured.

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