Miscellaneous Insurance IC-78 Exam Study Notes

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  • P.A. policy may be renewed by mutual consent every year and in such event, the renewal premium shall be paid to the company on or before the date of expiry of the policy or of the subsequent renewal thereof.
  • The company may at any time, by notice in writing, terminate the policy and the company shall return to the insured a pro-rata part of the premium.
  • In personal accident insurance, the main factor used to arrive at the premium is the occupation.
  • Medical expenses, war the allied risk extensions can be aviled under a P.A. policy can be availed for an additional premium.
  • Group personal accident policies are availed by large groups such as employees, club members etc. A group discount can be offered under such policies.

Miscellaneous insurance Exam