Insurance Awareness - Life Insurance - LIC
Which of the following is NOT a valid reason for the insurer to reject an assignment of a life insurance policy?
Which of the following is NOT a valid reason for the insurer to reject an assignment of a life insurance policy?
medium Q6 of 15
Step-by-Step Solution
Step 1: Understand Grounds for Rejection
Insurer can reject assignment if deed is unstamped, unsigned, or violates policy terms.Step 2: Evaluate Options
Absolute and unconditional assignment is valid and cannot be rejected on that basis.Final Answer:
Assignment is absolute and unconditional → Option AQuick Check:
Absolute assignment is recognized; other reasons are valid grounds for rejection.
Quick Trick: Absolute assignment is always valid; procedural lapses cause rejection.
Common Mistakes:
MISTAKES- Thinking absolute assignment can be rejected arbitrarily.
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