Section 45 of the Act will not apply
The claim can be treated as an early claim
Foul play must be suspected
All of the above
Answer is Right!
Answer is Wrong!
The correct answer is: D. All of the above
Section 45 of the Act states that a claim must be made within 12 months of the date of death. In this case, the claim was made more than 2 years after the date of death, so Section 45 will not apply.
The claim can be treated as an early claim, which means that the insurer may not have to pay the full amount of the policy.
Foul play must be suspected, as it is unusual for someone to die 3 years after taking out a life insurance policy. The insurer may investigate the claim to determine whether there is any evidence of foul play.
Here is a more detailed explanation of each option:
- Section 45 of the Act will not apply. Section 45 of the Act states that a claim must be made within 12 months of the date of death. In this case, the claim was made more than 2 years after the date of death, so Section 45 will not apply.
- The claim can be treated as an early claim. An early claim is a claim that is made before the policy has matured. In this case, the policy was only 5 years old when the claim was made, so it would be considered an early claim. If the claim is treated as an early claim, the insurer may not have to pay the full amount of the policy.
- Foul play must be suspected. It is unusual for someone to die 3 years after taking out a life insurance policy. The insurer may investigate the claim to determine whether there is any evidence of foul play. If the insurer suspects foul play, they may not pay the claim at all.