Question

What is the purpose of issuing a receipt after premium payment?

a.

To confirm that the premium has been paid

b.

To increase the cost of insurance

c.

To make premium payments more convenient

d.

To serve as an insurance policy document

Answer: (a).To confirm that the premium has been paid Explanation:A receipt is issued to confirm that the premium has been paid.

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Q. What is the purpose of issuing a receipt after premium payment?

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