NISM 10B Investment Adviser Level 2 Notes
Page 5 Of 180
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Accidental Loss: Insurance covers only unintentional and unforeseen losses.
Policy Lapse: Occurs when premiums are not paid, leading to loss of coverage.
Reinstatement: Reviving a lapsed policy by paying overdue premiums.
Free-Look Period: Allows policyholders to review and cancel a policy within a specified time.
Grace Period: Extra time to pay premiums without policy lapse.
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