Q286
In respect of payment of Reversionary Bonuses, which of the following is incorrect?
A.
Payable on maturity
B.
Payable on death
C.
Both A & B
AnswerD.
Payable at any time during the term of a policy
Answer: Option C
Solution
Answer: Option C
Solution:
Reversionary Bonuses are declared regularly and paid at the end (at the time of claim), i.e. on maturity of policy or death of the person. Hence, option (3) is incorrect.