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Life Insurance covers the risk of
HLV concept helps to determine the __________________ limit beyond which life insurance could be speculative.
Mr Kumar wants to transfer his property in the name of his Son Vijay, this is known as _________ planning
which of the below is an example of Rider?
In Secured risk profile Investment style is _____________
An insurance contract generally becomes ____________________ when there is a clear case of concealment with intent to deceive, or when there is fraudulent misrepresentation.
________________________________ is a key principle of insurance and is concerned with how the loss or damage actually occurred and whether it is indeed as a result of an insured peril. If the loss has been caused by the insured peril, the insurer is liable. If the immediate cause is an insured peril, the insurer is bound to make good the loss, otherwise not.
Under this rule, the insurer looks for the predominant cause which sets into motion the chain of events producing the loss. This may not necessarily be the last event that immediately preceded the loss i.e. it is not necessarily an event which is closest to, or immediately responsible for causing the loss.
In the _______________________________ the return depends on when the investment was made and the rate that was secured at the time of investment. It has also been called segmented or investment block method as different investment blocks gets different returns.
IDV ( Insured’s declared value) in motor insurance includes:
______________ means transfer of all rights and remedies, with respect to the subject matter of Insurance, from insured to insurer.
Which of the following is covered in shopkeepers insurance?
_________________ means that insurer would assess and compensate only the exact amount of loss.
____________________:A third contingency is that posed by investment risk — the possibility of one’s retirement savings being rendered inadequate or even wiped out because the underlying investments performed badly vis-à-vis expectations. This can be on account of default by debtors and / or a fall in the market value of investments. Fixed guaranteed pensions are a way to ward off such contingencies. The insurer assumes the investment risk.
Human Life Value can be arrived at by dividing ___________________ by ____
Which of the following is not true?
A. Insurance promotes efficient use of existing resources
B. Insurance contributes to healthy economy and national productivity
C. Insurance policy can be used as a collateral security
Providing social security is the obligation of ______
In Shopkeepers insurance all the follwing are covered except
__________________________________________: In general insurance, in case of perils like fire or earthquake, the probability ofthe happening of the event doesnot increase with time.
Pradip wants to invest in wealth Accumulation Products. In Below of the which product he should invest.
Which of the following is correct?
Statement A. The system of insurance benefits individual, family and the society
Statement B. Insurance companies could invest in speculative ventures.
In case of Mortgage Redemption Insurance, Sum Assured will be to maximum of
Which of the following is not correct, when a claim under MRI is initiated?
Cost of the risk would ______________ with the probability and amount of loss
What is TAT?
which of the following diseases can commonly be covered in critial illness?
Considering insuring an ordinary ball pen is an example of –
Insurers, hence, need to determine the true identity of their customers. Agents should ensure that proposers submit the proposal form along with the following as part of the KYC procedure:
Arbitration is a claim settlement process done
which of the below is not a part of policy schedule?
Which of the below forms the third part of a standard insurance policy document?
Under any circumstances, can a policy taken under MWP Act be surrendered?
Which of the below is a component of level premium ?
The dividends that are declared may be used in one of the following way :
Independent surveyors are required for claims equals to or above ____________________________ as per the insurance act.
Under _________________________ or pooling, the funds of various individuals are combined (placing all eggs in one basket).
_____________________:The worth of the life insurer’s assets in the market place.
_____________________: This is the value at which the life insurer has purchased or acquired its assets
Life insured under Mortgage Redemption Insurance will be __
__________________________ : The agent is the primary underwriter. All material facts and particulars about the policyholder, relevant to risk assessment, need to be revealed by the agent in his / her report. Matters of health, habits, occupation, income and family details need to be mentioned in the report.
Money Insurance policy covers :
Which of the below condition would generally be sought when considering insurance for minors?
Composite insurance agents
Identify the statement which is correct.
contractors all risk policy is a variation of
Who may cancel the license of an Insurance Agents?
Which is not the feature of Persistency?
which of the following is a claims procedure in respect of a life insurance policy ?
A claim is a_______________ that the insurer should make good the promise specified in the contract.
Which of the below is a condition of assignment?
______________________ can be made only by the lifeassured on the policy of his own life.
