Children Deferred Assurance Plans :
Are schemes under which a minor child is the beneficiary. The parent proposes for insurance on the life of the minor and pays premiums. The risk on life of child begins at a specified age. The period before the specified age is attained is called Deferment Period. Claim : An insurance contract is a promise to pay certain sums under certain conditions. Making a claim is invoking that promise and if it is in accordance with what is set out in the contract then it is admissible and can be payable if all other terms and conditions of the contract are met.
Are schemes under which a minor child is the beneficiary. The parent proposes for insurance on the life of the minor and pays premiums. The risk on life of child begins at a specified age. The period before the specified age is attained is called Deferment Period. Claim : An insurance contract is a promise to pay certain sums under certain conditions. Making a claim is invoking that promise and if it is in accordance with what is set out in the contract then it is admissible and can be payable if all other terms and conditions of the contract are met.
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