State True or False. The life insurance premium is paid in one lump sum.

True

No worries! We‘ve got your back. Try BYJU‘S free classes today!

False

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is B
False

False. The life insurance premium is paid in one lump sum, or periodically i.e, monthly, quarterly or half yearly or yearly.

Suggest Corrections

Similar questions

State True or False. A life insurance policy was introduced as a protection for individuals against the uncertainty of life.

State True or False. An insurance contract is void if the insurable interest is not present.

State True or False. Insurance provides certainty of payment for the risk loss.

State True or False. Marine insurance provides protection against loss of rodent infestation.

dummy - State True or False. Insurance provides certainty of payment for the risk loss.

Join BYJU'S Learning Program