Which of the below statement is correct with regards to a policy returned by a policyholder during the free look period?

Question

Which of the below statement is correct with regards to a policy returned by a policyholder during the free look period?

The insurance company will refund 100% of the premium
The insurance company will refund 50% of the premium
The insurance company will refund the premium after adjusting for proportionate risk premium for the period on cover, medical examination expenses and stamp duty charges
The insurance company will forfeit the entire premium

LohaHridoy

4 views

2025-01-04 04:42

1 Answers

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AhmedNazir · Accepted Answer · 2022-09-01T13:21:41+06:00

AhmedNazir

Answer: Option 3

The insurance company will refund the premium after adjusting for proportionate risk premium for the period on cover, medical examination expenses and stamp duty charges.

4 views Answered 2022-09-01 13:21