State the incorrect sentence

The incorrect sentence is D. There is no such thing as rider benefit in a policy contract.

A rider is a contract addendum that provides additional benefits to a policy. It is an optional add-on that can be purchased at the time of policy purchase or at a later date. Riders can provide a variety of benefits, such as accidental death and dismemberment coverage, waiver of premium, and accelerated death benefit.

Here is a brief explanation of each option:

• A. No Maturity claim is paid on the close of Term insurance. This is correct. Term insurance is a type of life insurance that provides coverage for a specific period of time, such as 10 or 20 years. If the insured person dies during the term of the policy, the death benefit is paid to the beneficiary. However, if the insured person survives the term of the policy, no death benefit is paid.
• B. In Money Back policy interim payments are made after certain frequencies. This is correct. Money back policies are a type of life insurance that provides both death benefit and cash value. The cash value grows over time and can be accessed in the form of interim payments, usually after certain periods of time, such as 5 or 10 years.
• C. In Money back policy on death within the policy duration full sum assured is payable without deducting the interim instalments already paid. This is correct. If the insured person dies during the policy term, the full sum assured is paid to the beneficiary, without deducting the interim instalments already paid.
• D. There is no such thing as rider benefit in a policy contract. This is incorrect. Riders are optional add-ons that can be purchased to provide additional benefits to a policy.