During the revival of a lapsed policy, which of the below aspect is considered most significant by the insurance company? Choose the most appropriate option.

During the revival of a lapsed policy, which of the below aspect is considered most significant by the insurance company? Choose the most appropriate option. Correct Answer Evidence of insurability at revival

During the revival of a lapsed policy, Evidence of insurability at revival is considered most significant by the insurance company. A lapsed policy means that the benefit of insurance will not be available to protect the financial interest of the dependants in the event of the death of the insured.

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What is the way to revival a lapsed policy of life insurance?
It would be advantageous to Revive a lapsed policy rather than taking a new policy. Most apt reason is -
One Mrs. Komai bought a car on the name of her daughter, Kiran, who is a minor, and got the insurance policy transferred on her name (Mrs. Komal). The car met with an accident on two counts and she file for a claim on both the counts, from the insurance agency. She acknowledged the receipt of the money as Kiran. The insurance company her prosecuted under Section 467 of the Indian Penal Code alleging fraud on the appellant's part?