Question

When does the money secured by the policy become payable according to Section 39(5)?

a.

When the policyholder requests it.

b.

When the nominee reaches a certain age.

c.

When the policy matures for payment during the lifetime of the insured person.

d.

When the nominee dies before the policyholder or their heirs.

Posted under IC 14 Regulations of Insurance Business

Answer: (c).When the policy matures for payment during the lifetime of the insured person. Explanation:The money secured by the policy becomes payable when the policy matures for payment during the lifetime of the person whose life is insured.

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Q. When does the money secured by the policy become payable according to Section 39(5)?
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