Que. 1 : Given below is a list of policies. Identify under which type of policy, the claim payment is made in the form of periodic payments?
1. Money-back policy
2. Unit linked insurance policy
3. Return of premium policy
4. Term insurance policy
Que. 2 : Mahesh has bought a life insurance policy with a critical illness rider. He has made absolute assignment of the policy in favour of Karan. Mahesh suffers a heart attack and there is a claim of Rs. 50,000 under the critical illness rider. To whom will the payment be made in this case?
2. The payment will be shared equally by Mahesh and Karan
4. Neither of the two because Mahesh has suffered the heart attack but the policy is assigned in favour of Karan
Que. 3 : Praveen died in a car accident. The beneficiary submits documents for death claim. Which of the below document is an additional document required to be submitted in case of accidental death as compared to natural death
1. Certificate of burial or cremation
2. Treating physician’s certificate
3. Employer’s certificate
4. Inquest Report
Que. 4 : Which of the below death claim will be treated as an early death claim?
1. If the insured dies within five years of policy duration
2. If the insured dies within three years of policy duration
3. If the insured dies within seven years of policy duration
4. If the insured dies within ten years of policy duration
Que. 5 : Given below are some events that will trigger survival claims. Identify which of the below statement is incorrect?
1. Claim paid on maturity of a term insurance policy
2. An instalment payable upon reaching the milestone under a money-back policy
3. Claim paid for critical illnesses covered under the policy as a rider benefit
4. Surrender value paid on surrender of an endowment policy by the policyholder
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