[amp_mcq option1=”1 year” option2=”3 years” option3=”5 years” option4=”7 years” correct=”option1″]<\/p>\n
The correct answer is: A. 1 year<\/strong><\/p>\n Section 45 of the Insurance Act, 1938 states that an insurer can reject a claim after one year of taking a policy if the insured has not made a claim during that time. This is known as the “one-year rule.” The one-year rule is designed to protect insurers from fraudulent claims. It also helps to ensure that insurers have enough time to investigate claims and make sure that they are valid.<\/p>\n The one-year rule does not apply to all types of insurance policies. For example, it does not apply to life insurance policies. Additionally, the one-year rule can be waived if the insured can show that there was a good reason why they did not make a claim within one year.<\/p>\n If you are considering taking out an insurance policy, it is important to be aware of the one-year rule. This will help you to make sure that you are protected in the event of a claim.<\/p>\n Here is a brief explanation of each option:<\/p>\n [amp_mcq option1=”1 year” option2=”3 years” option3=”5 years” option4=”7 years” correct=”option1″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[261],"tags":[],"class_list":["post-32152","post","type-post","status-publish","format-standard","hentry","category-insurance","no-featured-image-padding"],"yoast_head":"\n\n