Which is the simplest form of revival?

A Ordinary revival
B Special Revival
C Instalment revival
D Any of the above

Correct Answer: Ordinary revival

Ordinary revival is the simplest form of revival. As the name implies, ordinary revival is the most simple form of revival. Here, the revival is done simply by paying the delayed premium amount along with the interest charge.
Bissoy MCQ
#Commerce #Insurance

Related Questions

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.
A Evidence of insurability at revival
B Revival of the policy leading to increase in risk for the insurance company
C Payment of unpaid premiums with interest
D Insured submitting the revival application within a specified time frame
Under special revival which is correct?
A It is as though a new policy is issued by altering DOC
B The maturity date also gets altered
C Difference between old and new premium is payable
D All of the above
Under the loan cum revival which of the following is correct?
A The policyholder would pay full arrears of premium with interest like ordinary revival
B The loan granted would be used as a consideration amount and balance only payable
C Both A & B
D None of the above
When a medical report would be called at the time of revival?
A When the policy is in a lapsed condition for a long period
B If health problem is present
C If the sum assured is high
D All of the above
What is the way to revival a lapsed policy of life insurance?
A Ordinary revival
B Special Revival
C Instalment revival
D Any of the above
What is the condition for special revival?
A The policy should have loan value
B The policy must not have acquired surrender value
C Either A or B
D Neither A nor B
When instalment revival can be availed?
A When policyholder is unable to pay full arrears of premium in lumpsum
B When the policy could not be revived under special revival scheme
C Both A & B
D None of the above
Which one is the simplest form of alkane?
A Propane
B Butane
C Methane
D Decane
In its simplest form, a cam mechanism consists of following number of links
A 1
B 2
C 3
D 4
What is the simplest form of business organization?
A Sole proprietorship
B Partnership
C Enterprise
D Corporation

Next steps