Question

What happens when the claims experience for group policies is around 70 percent at the time of renewal?

a.

A significant premium discount is applied

b.

The normal rates will apply for renewal

c.

An additional premium is charged

d.

A policy cancellation is initiated

Answer: (b).The normal rates will apply for renewal Explanation:When the claims experience for group policies is around 70 percent at the time of renewal, the normal rates will apply for renewal.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What happens when the claims experience for group policies is around 70 percent at the time of renewal?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. How are renewals of group policies rated based on claims experience?

Q. Under what conditions can a group Personal Accident (PA) policy be issued excluding the death benefit?

Q. What is one of the factors that can determine the premium for Personal Accident (PA) policies in group insurance?

Q. What criteria must a proposed "Group" fall under to avail of group discounts and other benefits?

Q. What does a family package cover in a personal accident policy typically include?

Q. What is the general age limit for the working population (employer-employee) in personal accident insurance?

Q. In personal accident insurance, what does the term "Risk group I" typically represent?

Q. What is one of the primary underwriting considerations for personal accident insurance?

Q. Among foreign countries, which countries typically have the highest premium rates for overseas travel insurance?

Q. What is one important factor that affects the premium rate for overseas travel insurance?

Q. What is one purpose of group health insurance underwriting?

Q. What is one of the factors considered when underwriting non-employer employee groups for health insurance?

Q. In group health insurance, what does the term "group size" refer to?

Q. What is one of the important factors considered when underwriting group health insurance?

Q. How does zone-wise premium affect insurance policies?

Q. What are standard exclusions in insurance policies?

Q. What is the purpose of a "Counter offer" in underwriting?

Q. What is the final step in the underwriting process?

Q. What is the Numerical rating method in underwriting?

Q. How does non-medical underwriting differ from medical underwriting in terms of speed and premiums?

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!