Q. How does Section 64VB specify the timeline for assuming a risk when the premium is tendered by postal money order or cheque sent by post?

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Q. How must any refund of premium due to an insured be paid according to Section 64VB?

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Q. What is the timeframe within which an insurance agent must deposit the premium collected on behalf of an insurer?

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Q. What relaxation does Rule 59 of the Insurance Rules 1939 provide for policies issued to Government and semi-Government bodies under Section 64VB?

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Q. According to Rule 59 of the Insurance Rules 1939, what provision is made for premium payment on policies under Sickness Insurance, Group Personal Accident Insurance, Medical Benefits Insurance, and Hospitalization Insurance Schemes?

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Q. For Fidelity Guarantee Insurance covering Government and semi-Government employees, when must the premium be paid according to Rule 59?

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Q. What provision does Rule 59 make for policies issued on the basis of adjustable premium, such as workmen’s compensation and cash in transit?

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Q. According to Rule 59 of the Insurance Rules 1939, what provision is made for annual insurances connected with aircraft hulls, other aviation risks, and marine hulls?

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Q. Which of the following policies are eligible for relaxation from Section 64 VB under Rule 59 of the Insurance Rules 1939?

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Q. What is the purpose of the Insurance Act, 1938?

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Q. What amendments were carried out in the Insurance Act, 1938 at the time of passing the IRDA Act, 1999?

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Q. What does the unit primarily focus on in relation to the Insurance Act, 1938?

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Q. What is required for a transfer or assignment to be complete and effectual for the transferee/assignee?

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Q. When is a conditional assignment considered valid?

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Q. What does an absolute assignment transfer to the assignee?

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Q. When can a policyholder nominate a family member/s to receive the policy moneys?

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Q. What is prohibited concerning insurance policies?

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Q. Within what timeframe can an insurer repudiate a policy based on inaccurate or false information in the proposal or document?

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Q. What is the requirement for installment premium payment for policies under certain schemes?

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Q. Fill in the blanks by choosing the right option: The instrument through which a transfer or assignment of a policy of life insurance is made must be ________, ________, and ________.

(i) Signed
(ii) Attested
(iii) Notified
(iv) Stamped

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