Mumbai University Solved Question Papers
Law of Insurance
Previous Year Question Paper with Solution
LLB 3 years · Sem 6
May 2023 Examination
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LLB 3 years Sem 6 Law of Insurance May 2023 Question Paper with Solutions
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First published on munotes.in on 24 October 2026.
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The question paper reproduced here is the paper as set by the University of Mumbai at the May 2023 examination.
Contents
The questions below are the paper as the University of Mumbai set it at the May 2023 examination, in the order it was set.
MarksPage
MarksPage
The Paper as Set
The questions in this volume are the questions asked at the May 2023 examination, reproduced as the University of Mumbai set them, in the order it set them. Nothing has been reworded, added or left out. Only the answers are ours. See the original question paper.
Duration 3 hours · Total marks 100 · 25 questions answered
Instructions printed on the paper
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Q1
Q.1: Answer in one or two sentences
20 Marks - 2 marks each
(a)What is Disability Benefit?[2]
Answer
Meaning. A disability benefit is an extra benefit attached to a life or accident policy. It is paid if the insured person becomes totally and permanently disabled by accident or illness, so that he cannot earn a living.
The statutory basis. Section 2(11)(a) of the Insurance Act, 1938 says life insurance business is deemed to include "the granting of disability and double or triple indemnity accident benefits, if so provided in the contract of insurance". So a life insurer may grant it, but only where the policy provides for it.
The usual forms.
- Waiver of premium: the future premiums are waived, and the policy continues as if they were paid.
- A disability payment in the form and amount the rider states.
- A lump sum under a personal accident policy. The standard personal accident product of 2021 paid the full sum insured for permanent total disablement and a stated percentage for partial disablement.
How it is added. It is usually bought as a rider for an extra premium. The date of a rider is one of the dates from which the three-year bar in section 45(1) of the Insurance Act, 1938 runs.
Example. Ravi, insured for ₹10 lakh with a disability rider, loses both hands in a factory accident. His insurer waives further premiums and pays the benefit the rider states.
Conclusion. A disability benefit protects a person who is alive but can no longer earn. It is payable only as the policy provides.
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