Question

What option is available for a person with a physical deformity preventing them from signing to enter into a contract for an insurance product?

a.

They cannot enter into a contract

b.

They can sign using a thumbprint

c.

They can enter into a contract if they obtain a power of attorney granted by a court

d.

They can appoint a legal guardian to enter into the contract on their behalf

Answer: (c).They can enter into a contract if they obtain a power of attorney granted by a court Explanation:A person with a physical deformity preventing them from signing can enter into a contract for an insurance product if they hold a power of attorney granted by a court.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What option is available for a person with a physical deformity preventing them from signing to enter into a contract for an insurance product?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. Who are the parties involved in a life insurance contract?

Q. What is the relationship between the proposer and the life assured in a life insurance contract?

Q. What does insurable interest mean in the context of a life insurance contract?

Q. Who has an insurable interest in their employees?

Q. What type of income stresses financial dependence and is considered for insurable interest?

Q. What properties does insurable interest have?

Q. Who is usually the beneficiary in the case of contracts where the policyholder and life assured are the same?

Q. What is the role of the nominee in an insurance contract?

Q. Who usually has a right over the policy monies to the extent of their interest?

Q. How are insurance products typically sold in the market?

Q. What is one of the reasons why life insurance products are generally not given priority by individuals?

Q. What could be another reason for individuals not prioritizing life insurance products?

Q. How does the complexity of insurance products contribute to individuals not prioritizing them?

Q. What is NOT a factor contributing to individuals not prioritizing life insurance products?

Q. What is emphasized as necessary to meet the insurance needs of various segments of people?

Q. What type of insurance product would be typically suitable for a student?

Q. What is the recommended insurance product for retired employees?

Q. Which type of insurance product is suitable for single persons?

Q. What type of insurance product is recommended for borrowers?

Q. Which type of insurance product is suitable for casual workers or unorganized workers?

Recommended Subjects

Are you eager to expand your knowledge beyond IC 92 Actuarial Aspects of Product Development? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!