[amp_mcq option1=”It is as though a new policy is issued by altering DOC” option2=”The maturity date also gets altered” option3=”Difference between old and new premium is payable” option4=”All of the above” correct=”option4″]
The correct answer is D. All of the above.
Under special revival, the policy is revived as if it is a new policy. This means that the policy will have a new policy number, a new date of commencement, and a new maturity date. The insured will also need to pay the difference between the old and new premiums.
Here is a brief explanation of each option:
- Option A: It is as though a new policy is issued by altering DOC. This means that the policy will be treated as if it is a new policy. The policy will have a new policy number, a new date of commencement, and a new maturity date.
- Option B: The maturity date also gets altered. This is because the policy is treated as if it is a new policy. The new maturity date will be based on the new date of commencement.
- Option C: Difference between old and new premium is payable. This is because the policy is treated as if it is a new policy. The insured will need to pay the difference between the old and new premiums.
I hope this helps! Let me know if you have any other questions.