The policy should have loan value
The policy must not have acquired surrender value
Either A or B
Neither A nor B
✅ The correct answer is B.
The policy must not have acquired surrender value is the condition for special revival. Typically, one should have paid at least three years’ premium to the insurer and thereafter can opt for either one of the 2 above mentioned options for policies with a term of 10 years or more. For policies with a lesser term, at least two years’ premium payment is mandatory.
The policy must not have acquired surrender value is the condition for special revival. Typically, one should have paid at least three years’ premium to the insurer and thereafter can opt for either one of the 2 above mentioned options for policies with a term of 10 years or more. For policies with a lesser term, at least two years’ premium payment is mandatory.