If an Insurance Company accepts a Risk, with a Lien on Sum-Assured, then What Does this imply?
1
Lien implies that, if the Life-Assured Dies from a Specified Cause, Within a Given Period, Only a Decreased Amount of Death-Benefit may be Payable.
2
Lien implies that, the Risk is Being Accepted, by the Company, for a Limited Period.
3
Lien implies that, the Insurance Company is Accepting the Risk, at Lower Rate of Premium, as compared to the Tabular-Rate.
4
Lien implies that, the Insurance-Proposal is Postponed, till a Specified Period.
5
Lien implies that, the Risk is Being Accepted, by the Company, for an unlimited Period.