In respect of payment of Reversionary Bonuses, which of the following is incorrect?
A
Payable on maturity
B
Payable on death
C
Both A & B
D
Payable at any time during the term of a policy
Correct Answer: Both A & B
Reversionary Bonuses are declared regularly and paid at the end (at the time of claim), i.e. on maturity of policy or death of the person. Hence, option (3) is incorrect.