Question

What is typically required when a policyholder requests an alteration in a life insurance policy?Which of the following policy alterations does not generally involve an increase in the risk?

a.

A detailed health check-upChanging the mode of payment of premium

b.

Consent from the insurance regulatorReducing the sum assured

c.

Cancellation of the existing policyChanging from without profits to with profits plan

d.

Placement of a suitable endorsement on the policyIncreasing the sum assured

Answer: Placement of a suitable endorsement on the policyChanging the mode of payment of premium Explanation:Alterations in a life insurance policy may require placing a suitable endorsement on the policy or a separate paper, depending on the type of alteration.Changing the mode of payment of premium is an alteration that typically does not involve an increase in the risk.

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Q. What is typically required when a policyholder requests an alteration in a life insurance policy?Which of the following policy alterations does not generally involve an increase in...

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