What will be Looked At, in order to determine the Sum-Assured, under Key-Man Insurance?
A)Key-Man's Current Financial Statements.
B)Key-Man's Past Financial Statements.
C)Audited Financial Statements of the Business and Income- Tax (I.T.) Returns.
D)Income-Tax (I.T.) Returns of the Key-Man.

Question

Quizplus · Accepted Answer

The sum assured under Key-Man Insurance is determined by looking at the audited financial statements of the business and the income-tax returns to assess the financial contribution and importance of the key person to the business.

What Will Be Looked At, in Order to Determine the Sum-Assured