Q. Section 59 of the Insurance Rules allows exceptions to the condition of advance payment of premium for which type of insurances?

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Q. What is the traditional declaration regarding insurance?

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Q. Who is responsible for initiating the solicitation process for insurance?

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Q. What are insurance agents appointed for in the solicitation process?

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Q. What is a grace period in insurance?

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Q. In Life insurance, what is the grace period for paying premiums in case of Monthly mode of Premium collection?

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Q. How long is the grace period for renewing Motor Policies?

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Q. What was the additional grace period allowed for Life insurance policies during the Covid-19 pandemic?

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Q. How long was the grace period allowed for renewing Motor Vehicle Third Party Insurance policies during the Covid-19 pandemic?

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Q. What is a "Free-Look Period" in insurance?

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Q. How long is the Free-Look Period for Life Insurance and Health Insurance policies?

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Q. In what type of insurance policies is the Free-Look Period typically available?

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Q. What does the policyholder need to do if they want to cancel the policy during the Free-Look Period?

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Q. What happens to the premium if a policy is canceled during the Free-Look Period?

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Q. What is the term used for the proportionate calculation of premium when a policy is canceled, and no claims have been paid?

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Q. How do insurers typically handle premium refunds for annual policies when canceled by the insured?

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Q. What is the term used for the rates disclosed as part of the insurance contract that defines how premiums are handled when a policy is canceled by the insured?

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Q. Which of the following does NOT fall under the categories of "Coercion," "Undue Influence," "Fraud," or "Mistake" in contract law?

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Q. Why do insurers charge/retain premiums at higher rates and refund premiums at higher rates for canceled annual policies?

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Q. What is the consideration in an insurance contract?

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