IC38 LIFE INSURANCE AGENT EXAM - Study Notes

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  • Tertiary Health care is specialized consultative healthcare, usually for inpatients and on referral from primary/secondary care providers. The tertiary care providers are present mostly in the state capitals and a few at the district headquarters
  • Teritiary Health Care - Advanced Medical Facilities like Oncology (cancer treatment), Organ Transplant facilities, High risk pregnancy specialists etc.
  • Payment of Premium in Advance (Section 64 VB of Insurance Act, 1938) - As per Insurance Act, premium is to be paid in advance, before the start of the insurance cover. the risk may be assumed only from the date on which the premium has been paid in cash or by cheque.
  • Where the premium is tendered by postal or money order or cheque sent by post, the risk may be assumed on the date on which the money order is booked or the cheque is posted as the case may be.
  • Where an insurance agent collects a premium on a policy of insurance on behalf of an insurer, he shall deposit with or dispatch by post to the insurer the premium so collected in full without deduction of his commission within twenty-four hours of the collection excluding bank and postal holidays.

IC 38 Life Insurance

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