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?

View solution

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?

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

Q. When is a conditional assignment considered valid?

View solution

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

View solution

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

View solution

Q. What is prohibited concerning insurance policies?

View solution

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

View solution

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

View solution

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

View solution

Q. Nomination may be made by the holder of the policy only when the policy is on _______ life.

View solution

Q. Any person making default in complying with the provisions of section 41 shall be punishable with fine which may extend to _________.

View solution

Q. As per Section 45 of the Insurance Act 1938, a life insurer can repudiate the policy on the ground that any material facts in the proposal or document are inaccurate or false within ___________ from the date of the issuance of the policy or commencement of risk.

View solution

Q. Fill in the blank by choosing the correct option: For policies under Group Personal Accident Insurance, the installment of the premium covering a particular period must be paid within _______ from the date of commencement of that period.

View solution

Q. What type of assignment is valid only if the specified event happens during the lifetime of the life assured?

View solution

Q. Section 39 of the Insurance Act, 1938 provides that the policyholder may nominate ______ to whom the money secured by the policy shall be paid in the event of the death of the policyholder.

View solution