Important Points for IC 26 - Life Insurance Finance Exam
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Non unit fund consists of premium allocation charges.
Outstation cheques will not be accepted by the insurance companies for premium.
In Loan Against Policy (LAP), policyholder can apply for loan against his insurance policy. The loan amount depends upon the surrender value of the life insurance policy.
Lapsed policies under which policyholder has failed to pay premiums to keep it in force.
Foreclosure action means surrendering the policy to recover loan and interest dues.
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