Question:
What is the correct statement for insurance contracts?
What is the correct statement for insurance contracts?
Updated On: Aug 5, 2024
- Premiums paid are refundable in case an insurance policy is void due to fraud of insured.
- Premiums paid are refundable in case an insurance policy is void due to fraud of the insurer.
- The period of limitation is applicable only to life insurance contracts.
- Premiums are refundable in case an insurance is affected without interest.
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The Correct Option is B
Solution and Explanation
The correct option is (B): Premiums paid are refundable in case an insurance policy is void due to fraud of the insurer.
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