C04 Features of Insurance Contracts MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on C04 Features of Insurance Contracts, a fundamental topic in the field of IC38 Life Insurance Agent Exam. Whether you're preparing for competitive exams, honing your problem-solving skills, or simply looking to enhance your abilities in this field, our C04 Features of Insurance Contracts MCQs are designed to help you grasp the core concepts and excel in solving problems.

In this section, you'll find a wide range of C04 Features of Insurance Contracts mcq questions that explore various aspects of C04 Features of Insurance Contracts problems. Each MCQ is crafted to challenge your understanding of C04 Features of Insurance Contracts principles, enabling you to refine your problem-solving techniques. Whether you're a student aiming to ace IC38 Life Insurance Agent Exam tests, a job seeker preparing for interviews, or someone simply interested in sharpening their skills, our C04 Features of Insurance Contracts MCQs are your pathway to success in mastering this essential IC38 Life Insurance Agent Exam topic.

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C04 Features of Insurance Contracts MCQs | Page 5 of 5

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Q41.
During the Free-look period, if the policyholder, who has bought a policy through an Agent, disagrees to any of its terms and conditions, he/ she can return it and get a refund subject to the following conditions:

a.

He/ she can exercise this option within 15 days of receiving the policy document

b.

He/ she has to communicate to the company in writing

c.

The premium refund will be adjusted for proportionate risk premium for the period on cover, expenses incurred by the insurer on medical examination and stamp duty charges

d.

All the above

Discuss
Answer: (d).All the above Explanation:During the free-look period, if the policyholder disagrees with any of the policy's terms and conditions, they can return it by following these conditions: They must communicate in writing to the company within 15 days of receiving the policy document, and the premium refund will be adjusted for the proportionate risk premium, expenses incurred by the insurer for medical examination, and stamp duty charges.
Q42.
If the policyholder has bought a policy and does not want it, he/ she can return it during the _________ period, and get a refund.

a.

Free evaluation

b.

Free-look

c.

Cancellation

d.

Free trial

Discuss
Answer: (b).Free-look Explanation:If the policyholder has bought a policy and does not want it, he/she can return it during the Free-look period and get a refund.
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