Question

When is the premium typically paid by the insured?

a.

At the end of the insurance contract

b.

Only once at the commencement of the contract

c.

At the commencement of the contract and later throughout the term at periodical intervals

d.

Only when a claim is made

Answer: (c).At the commencement of the contract and later throughout the term at periodical intervals Explanation:The premium is typically paid by the insured at the commencement of the insurance contract and later throughout the term at periodical intervals as per the policy terms and conditions. This ensures continuous coverage under the insurance policy.

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Q. When is the premium typically paid by the insured?

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