Question 5 : Who is protected under the incontestability
clause included under a life insurance policy?
Insurer
Insured
Insurance agent
Insurance broker
Question 6 : Section 45 (Indisputability Clause) of the
Insurance Act protects the insured from
rejection of claim by the insurer, provided the
policy has completed ____________. Choose
the most appropriate option
One year
Two years
Five Years
Seven Years
Question 7 : As per the suicide clause, if the insured dies as a
result of suicide after 3 years of the issue of
policy, what does the beneficiary receive as
claim?
Nothing
Premium paid by the insured
2 X Premium paid by the insured
Full face amount of the policy
Question 8 : What does First Premium Receipt signify?
Free look period has ended
It is evidence that the policy contract has begun
Policy cannot be cancelled now
w Policy has acquired a certain cash value
Question 9 : Identify the document that evidences a
contract between the insurer and insured.
Proposal form
Claim form
Nomination form
Policy document
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