[amp_mcq option1=”First Premium Receipt” option2=”Renewal Premium Receipt” option3=”Both A & B” option4=”None of the three” correct=”option3″]
The correct answer is: C. Both A & B
A premium receipt is a document that is issued by an insurance company to confirm that a premium has been paid. The receipt will typically include the name of the insured, the policy number, the amount of the premium, and the date the premium was paid.
A first premium receipt is a premium receipt that is issued for the first premium payment on a new insurance policy. A renewal premium receipt is a premium receipt that is issued for a premium payment that is made to renew an existing insurance policy.
Both first premium receipts and renewal premium receipts are considered to be premium receipts.