The date when the risk effectively begins
The date when the next premium falls due
The date when the policy will commence
None of the above
Answer is Right!
Answer is Wrong!
The correct answer is: A. The date when the risk effectively begins.
The date of issue of the FPR indicates the date when the risk effectively begins. This is the date on which the policy takes effect and the insurer becomes liable for any losses that occur.
The date when the next premium falls due is the date on which the policyholder must pay the next premium. This date is usually specified in the policy contract.
The date when the policy will commence is the date on which the policy starts to provide cover. This date is usually specified in the policy contract.
I hope this helps! Let me know if you have any other questions.