Which of the below statement is incorrect with regards to a policy against which a loan has been taken from the insurance company?

A The policy will have to be assigned in favour of the insurance company
B The nomination of such policy will get cancelled due to assignment of the policy in favour of the insurance company
C The nominee’s right will be affected to the extent of the insurer’s interest in the policy
D The policy loan is usually limited to a percentage of the policy’s surrender value

Correct Answer: The nomination of such policy will get cancelled due to assignment of the policy in favour of the insurance company

The nomination of such policy will get cancelled due to assignment of the policy in favour of the insurance company is incorrect with regards to a policy against which a loan has been taken from the insurance company.
Bissoy MCQ
#Commerce #Insurance

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According to a survey of business firms in a certain city, 750 firms offer their employees health insurance , 640 offer dental insurance and 280 offer health insurance and dental insurance. How many firms offer their employees health insurance or dental
A 920
B 1,100
C 1,110
D 1,030
Which of the below statement is incorrect with regards to assignment of an insurance policy?
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D The standard length of the grace period is one month or 31 days
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A Tk. 1,04,000
B Tk. 90,000
C Tk. 40,000
D Tk. 80,000
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