Question

What does the Miscellaneous charge apply to?

a.

Premium payments

b.

Alterations within the contract

c.

Partial withdrawal of funds

d.

Policy administration

Posted under IC 14 Regulations of Insurance Business

Answer: (b).Alterations within the contract Explanation:The Miscellaneous charge is levied for any alterations within the contract, such as an increase in sum assured, premium redirection, or change in policy term. This charge is expressed as a flat amount and is only levied at the time of alteration.

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Q. What does the Miscellaneous charge apply to?
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