In respect of Bonuses, which of the following is incorrect?
A
Bonuses once declared, get attached to the policy and can’t be taken away
B
Bonuses form part of liability of a company
C
Premiums need not have been paid for a specified no. of years
D
All of the above
Correct Answer: Premiums need not have been paid for a specified no. of years
In respect of Bonuses, Premiums need to be paid for a specified no. of years.