Question

What is the purpose of the life insurance policy document?

a.

It serves as a marketing tool for insurance companies.

b.

It provides detailed information on the insured's personal history.

c.

It lists all the terms and conditions of the insurance contract.

d.

It outlines the investment strategy for the policy's cash value.

Posted under IC38 Life Insurance Agent Exam

Answer: (c).It lists all the terms and conditions of the insurance contract. Explanation:The life insurance policy document is the evidence of the insurance contract and contains all the terms and conditions of the policy. It specifies the sum assured and the obligations of both the insurer and the insured.

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