Question

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?

a.

Instalment payments not exceeding four in number may be allowed.

b.

Premiums must be paid in full at policy issuance.

c.

Premiums must be paid within 30 days from the commencement of each period.

d.

Premiums must be paid within 15 days from the date of policy issuance.

Answer: (a).Instalment payments not exceeding four in number may be allowed. Explanation:Rule 59 allows facilities for delayed payment of premium or payment of premium by instalments, not exceeding four in number, for annual insurances connected with aircraft hulls, aviation risks, and marine hulls.

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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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