Question

According to IRDA Regulations, how should premium payments through net banking or credit/debit cards be made?

a.

The payment can be made through any bank's account.

b.

The payment must be made through a bank account in the name of the agent.

c.

The payment must be made through a bank account in the name of the policyholder.

d.

The payment must be made in cash.

Posted under IC38 Life Insurance Agent Exam

Answer: (c).The payment must be made through a bank account in the name of the policyholder. Explanation:According to IRDA Regulations, the payment must be made through a bank account in the name of the proposer or policyholder.

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Q. According to IRDA Regulations, how should premium payments through net banking or credit/debit cards be made?
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