New Cracking SEBI General in 60 Days - Possible or Not?
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Question

A term policy that can be converted to permanent coverage rather than expiring on a specific date is called?

A Contingent Beneficiary Correct Answer Incorrect Answer
B Contingent Liability Correct Answer Incorrect Answer
C Contractual Liability Correct Answer Incorrect Answer
D Convertible Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

Liability imposed on an entity by the terms of a contract. As used in insurance, the term refers not to all contractually imposed liability but to the assumption of the other contracting party's liability under specified conditions.

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