Q. What are the standard policy provisions primarily concerned with?

View solution

Q. Which type of provision is typically statutorily provided under the policy contract?

View solution

Q. What does a first premium receipt (FPR) signify? Choose the most appropriate option.

View solution

Q. What does the "Grace Period" provision in a life insurance policy allow?

View solution

Q. When does a policy enter a lapse condition?

View solution

Q. What is reinstatement in the context of a life insurance policy?

View solution

Q. Under what conditions can a policy be revived?What is required for a policy revival to take place?

View solution

Q. Under what conditions can a policy be revived?

View solution

Q. When can a lapsed Non-Linked Policy be revived according to IRDAI Product Regulations?

View solution

Q. What is one of the most significant conditions required for the revival of a lapsed policy?

View solution

Q. When may an insurer require a medical examination or other evidence of insurability for policy revival?

View solution

Q. What is the time frame within which a lapsed Non-Linked Policy can be revived according to IRDAI Product Regulations?

View solution

Q. What is one of the conditions required for the revival of a lapsed policy?

View solution

Q. When is the insurer likely to require a medical examination for policy revival?

View solution

Q. What is the maximum time frame for reviving a lapsed Non-Linked Policy according to IRDAI Product Regulations?

View solution

Q. Which condition is most significant for the revival of a lapsed policy?

View solution

Q. What is the grace period for premium payment?

View solution

Q. What does "insurability" refer to in the context of policy revival?

View solution

Q. When can a lapsed policy be reinstated?

View solution

Q. What is the purpose of a medical examination for policy revival?

View solution