Mr. Khalid a purchase manager of a corporation, took a medical insurance policy form Oman Insurance Company. He has mentioned in the proposal form that he had some serious medical issue two years back as he has disclosed that information to insurance company at the time of taking the policy. During the current year he was admitted to hospital and took treatment for 15 days. He was fully recovered and his health condition is fine now. Mr. Khalid had submitted his proposal claim with insurance company. So, Insurance Company will: a. Accept Mr. Khalid's proposal and claim will be paid fully. b. Accept Mr. Khalid's proposal and claim will be paid partially c. Accept Mr. Khalid's proposal and claim will not be paid d. Reject Mr. Khalid's proposal and claim will not paid
Mr. Khalid a purchase manager of a corporation, took a medical insurance policy form Oman Insurance Company. He has mentioned in the proposal form that he had some serious medical issue two years back as he has disclosed that information to insurance company at the time of taking the policy. During the current year he was admitted to hospital and took treatment for 15 days. He was fully recovered and his health condition is fine now. Mr. Khalid had submitted his proposal claim with insurance company. So, Insurance Company will: a. Accept Mr. Khalid's proposal and claim will be paid fully. b. Accept Mr. Khalid's proposal and claim will be paid partially c. Accept Mr. Khalid's proposal and claim will not be paid d. Reject Mr. Khalid's proposal and claim will not paid
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Mr. Khalid a purchase manager of a corporation, took a medical insurance policy form Oman Insurance Company. He has mentioned in the proposal form that he had some serious medical issue two years back as he has disclosed that information to insurance company at the time of taking the policy. During the current year he was admitted to hospital and took treatment for 15 days. He was fully recovered and his health condition is fine now. Mr. Khalid had submitted his proposal claim with insurance company. So, Insurance Company will:
a.
Accept Mr. Khalid's proposal and claim will be paid fully.
b.
Accept Mr. Khalid's proposal and claim will be paid partially
c.
Accept Mr. Khalid's proposal and claim will not be paid
d.
Reject Mr. Khalid's proposal and claim will not paid
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