n NISM Certifications
NSM General NISM
Medium

What happens if a comprehensive policy lapses for more than 90 days?

Practice question from IC 38 Mock Test 19 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    The policy is extended for another year

  2. B

    The premium amount is refunded

  3. The accrued No Claim Bonus benefit would be lost

    Correct answer

  4. D

    The policyholder is penalized with higher premiums

A full explanation for this question is being written. In the meantime, the correct answer is highlighted above.

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