Ace the Alberta General Insurance Level 1 Exam 2025 – Insure Your Success Today!

Question: 1 / 400

When is payment of premiums due?

After the claim is made

When coverage becomes effective

The payment of premiums is typically due when coverage becomes effective. This means that the payment is due at the start of the insurance policy, before any claims are made. Option A, after the claim is made, is incorrect because the payment must be made before any claims are processed. Option C, 30 days after coverage starts, may be incorrect because it may vary depending on the specific terms of the policy. Option D, at the end of the coverage period, is incorrect because the payment is typically due at the start of the coverage period. It is important to make the payment on time to ensure that coverage is in effect and to avoid any lapses in coverage.

Get further explanation with Examzify DeepDiveBeta

30 days after coverage starts

At the end of the coverage period

Next Question

Report this question

Download Ace the Alberta General Insurance Level 1 Exam 2025 – Insure Your Success Today! PDF Study Guide
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy