Question

What does the Policy Administration Charge represent?

a.

Fund management expenses

b.

Fixed charges applied to the premium

c.

Expenses other than those covered by premium allocation charges and fund management expenses

d.

Charges for policy cancellation

Posted under IC 14 Regulations of Insurance Business

Answer: (c).Expenses other than those covered by premium allocation charges and fund management expenses Explanation:The Policy Administration Charge represents expenses other than those covered by premium allocation charges and fund management expenses. This charge may be expressed as a fixed amount or a percentage of the premium or sum assured.

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