Question

When is the Rider Premium Charge levied?

a.

At the time of policy issuance

b.

At the time of premium payment

c.

At the beginning of each policy month from the fund

d.

At the time of policy cancellation

Posted under IC 14 Regulations of Insurance Business

Answer: (c).At the beginning of each policy month from the fund Explanation:The Rider Premium Charge is levied at the beginning of each policy month from the fund. This charge covers the cost of rider cover and is exclusive of expense loadings.

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