The correct answer is: Both A & B.
A special report is a document that is required by an insurance company when an applicant for insurance has a medical condition or other risk factor that could affect the cost of the policy. Special reports are typically required for applicants who are applying for high-value policies or who are older than the standard age limit for coverage.
There are a number of reasons why an insurance company might require a special report. For example, the company may want to verify the applicant’s medical history or to get more information about a specific medical condition. The company may also want to assess the applicant’s risk of developing certain health problems in the future.
If you are asked to provide a special report, it is important to complete it accurately and completely. The information you provide will help the insurance company to determine whether you are eligible for coverage and what the cost of your policy will be.
Here are some additional details about each option:
- Option A: When high sum insured is proposed. This is because the insurance company will want to make sure that the applicant is able to afford the premiums for a high-value policy.
- Option B: When age is advanced. This is because older people are more likely to have health problems, and the insurance company will want to assess the applicant’s risk of developing these problems in the future.
- Option C: Both A & B. This is the correct answer because both of these factors can affect the cost of insurance.