8. CLAIMS 1. What is meant by the claim under the insurance policy? - A demand to fulfill the insurers obligations. 2.

What does a claim arise under an insurance policy? - When the insured events happen. 3. The insurer will not pay claim unless - The event insured against, happen. 4. Which one of the following statement is correct? - Both statements are wrong- i) A request for the loan is considered as the claim. ii) A request for surrender of policy is considered as the claim. 5. Which one of the following statement is correct? - Both statements are wrong i) A claim will be paid as soon as the death of the insured is confirmed. ii) An insurer makes enquiries to establish that the death took place. 6. Which one of the statement is correct? - The insurer makes enquiries to check facts stated in the proposal. 7. Which one of the following statements is correct? - The insurer makes enquiries only in the case of death claims. 8. Which one of the following statements is correct? - The insurer makes enquiries only in the case of the early claims. 9. Which one of the following statements is correct? - Both statements are correct i) A death claim within two years of commencement is treated as the early claim. ii) A death claim within two years of revival is treated as an early claim. 10. Which one of the following statements is correct? - A death claim within two years of the revival is treated as the early claim. 11. Which one of the following statements is correct? - The insurer takes the action in a death claim case after the demand is made on it. 12. Which one of the following statements is correct? - Both statements are correct i) Maturity claims are paid to the policy holder. ii) Maturity claims are paid to the assignees. 13. Which one of the following statements is correct? - Maturity claim cheques are paid to the trusty in a MWP Act case. 14. Which one of the following statements is correct? - Maturity claim cheques are paid to the trusty in a MWP Act case. 15. Which one of the following statements is correct? - The death claim is settled in favour of the trustee in the MWP Act cases. 16. Which one of the following statements is correct? - Maturity proceeds are paid to the heirs, if the policy holder dies earlier.

17. Which one of the following statements is correct? - Claim can be paid even without the original policy, if it is lost. 18. Which one of the following statements is correct? -Both statements are correct i) Claims may be paid on the basis of indemnity, if the title is not established. ii) Claims may be paid on the basis of the indemnity, if original policy is lost. 19. Which one of the following statements is correct? - Insurer need not wait for formal death of intimation. 20. Before paying the claim, which of the following have to be verified? - All are correct i) Premiums paid till date. ii) Balance of loan, if any. iii) Title of claimant. 21. Before paying the claim, which of the following have to be verified? -Age of the life insured. 22. Before paying the claim, which of the following have to be verified? - All of i) Proof of the life insured ii) Receipt of all premiums paid from commencement iii) Entitlement for accident benefits. 23. Which one of the following statements is correct? -Both statements are correct- i) if the person is missing for the seven years, the claim is called as the death claim. ii) A claim can be admitted if the life insured is not heard of for the seven years. 24. Which one of the following statements is correct? - In case of the missing person, premiums are to be paid till court judgment. 25. Which one of the following statements is correct? -Both statements are correct Action is initiated by the insurer well before the date of maturity. ii) The rightful claimant in the case of maturities is the policy holder or assignee. 26. Which one of the following statements is correct? -Both statements are wrong All maturity claims are paid in one lump sum. ii) All death claims are paid in one lump sum. 27. Which one of the following statements is correct? - A death claim, after admission, may be paid years later. 28. Which one of the following statements is correct? -A maturity claim may be payable years after the days of maturity. 29. Which one of the following statements is correct? -A survival benefit is settled like the maturity claims. 30. Which one of the following statements is correct, if trustee is not appointed? - A claim under the MWP Act policy will be paid to the official trustee. 31. Which one of the following statements is correct? -Survival benefits have to be endorsed on the policy.