Question

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

a.

Only when the policy has been in a lapsed state for a very short period of time

b.

If the policyholder requests it

c.

If the sum assured is small

d.

If the grace period has expired for an extended period

Posted under IC38 Life Insurance Agent Exam

Answer: (d).If the grace period has expired for an extended period Explanation:A medical examination may be required for policy revival if the grace period has expired for an extended period.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

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

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

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

Q. What is the primary reason for requiring satisfactory evidence of continued insurability?

View solution

Q. Which time frame is generally specified for completing the revival application for a lapsed policy?

View solution

Q. What is the primary purpose of revival of lapsed policies for life insurers?

View solution

Q. What is "surrender value" in the context of life insurance policies?

View solution

Q. How is the surrender value calculated for life insurance policies?

View solution

Q. What is the "Guaranteed Surrender Value" (GSV) in the context of life insurance policies?

View solution

Q. Why may the actual surrender value differ from the value mentioned in the policy?

View solution

Q. What purpose does the Guaranteed Surrender Value (GSV) serve for policyholders?

View solution

Q. What is the primary purpose of policy loans in life insurance?

View solution

Q. How is the amount of a policy loan determined?

View solution

Q. What happens if a policyholder does not repay a policy loan?

View solution

Q. Why is the policy assigned to the insurer when a policy loan is granted?

View solution

Q. What happens to a nominee's rights when a policy loan is outstanding?

View solution

Q. What does the process of nomination in life insurance involve?

View solution
View All MCQs on IC38 Life Insurance Agent Exam

Recommended Subjects

Are you eager to expand your knowledge beyond IC38 Life Insurance Agent Exam? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!

DC Machines

Dive into the fundamentals of direct current (DC) machines with our specialized...

IC85 Reinsurance Management

Gear up for success in the Insurance Institute of India (III) examination with IC85...

IC38 Life Insurance Agent Exam

Prepare for success in the Insurance Institute of India (III) IC38 IRDA examination...

Mechanics of Materials

Unlock the principles of Mechanics of Materials with our specialized category. Dive...

Verbal Ability

Hone your language and communication skills with our Verbal Ability category. Enhance...

Irrigation Engineering

Master the science of Irrigation Engineering with our dedicated category. Explore...

Human Anatomy and Physiology

Embark on a journey through the human body with our Human Anatomy and Physiology...

Civil Engineering

Dive into the world of Civil Engineering with our specialized category. Explore the...

Logical Reasoning

Enhance your logical thinking and decision-making abilities with our Logical...