Practice of Life Insurance Exam

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Loan cum revival - the facility of loan cum revival would be allowed only for policies that have acquired surrender value as on date of revival.
The rates of premium vary as per age, term and benefits offered under the type of product
Most life insurance companies use the 'age nearest birthday' method for age determination
The process of transferring the title, rights and interest on assets or property from one person to another is known as assignment.
Assignment is generally done to provide security against loan.

Licentiate Exam - IC 02 Practice of Life Insurance Exam - Important Points