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In a life assurance contract, the primary liability of the assured (policyholder) is to pay the agreed premiums on time to maintain the validity of the policy. Failure to do so may result in the policy lapsing or benefits being reduced. Additionally, the assured must provide accurate information during the application process, as misrepresentation can lead to claims being denied. Overall, the assured's obligations primarily revolve around premium payments and full disclosure of relevant health and lifestyle information.
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Distinguish between endowmnet whole life and term assurance policies?
whole life provides a life cover amount, available over whole life of assured, while term assurance provides a specific amount of life cover available only over a restricted length of time.
What company bought out First Life Assurance Company?
Mega Life bought First Life Assurance Company.
When was The Equitable Life Assurance Society created?
The Equitable Life Assurance Society was created in 1762.
When was The Great-West Life Assurance Company created?
The Great-West Life Assurance Company was created in 1891.
What is the population of The Great-West Life Assurance Company?
The population of The Great-West Life Assurance Company is 2,008.
Where can one obtain a cheap life assurance plan?
The insurance company Aetna is the best life assurance plan. It helps your offspring and ensures security throughout your entire life. It is one of the best assurance plans out there.
What is the best way to have life assurance?
The best way to have life assurance is through life insurance. Life insurance can be gained from most banks and is commonly available as a service to be provided.
What is the difference between short term and long term liabilities?
Short term liabilities have a 'life span' of 12 months or less. Long term liabilities have a 'life span' of greater than 12 months.
What has the author Leslie John New written?
Leslie John New has written: 'Life assurance from proposal to policy' -- subject(s): Life Insurance 'Life assurance'
was the mutual life assurance company of canada bought out by another company If so, what is the name of the company?
Yes, Mutual Life Assurance was bought in 2002 by Sun Life Financial. The company is now known as Clarica Life Assurance. Here is a link to their website. http://www.sunlife.ca/
Is jeevan anand is good plan of lic India?
Jeevan Anand is a combination of Endowment Assurance and Whole Life plans. It provides financial protection against death throughout the lifetime of the life assured with the provision of payment of a lump sum at the end of the selected term in case of his survival.
What are the types of whole life assurance policies?
There are seven different types of whole life assurance policies. These whole life assurance policies include non-participating, participating, indeterminate premium, economic, limited pay, single premium, and interest sensitive.
