Q881
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
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
Ordinary revival, Special Revival, Instalment revival is the way to revival a lapsed policy of life insurance. The revival of life insurance policy is required when the insured fails to pay the premium within the grace period and the coverage of the policy lapses.