Insurance mcqs

✅ The correct answer is A.
In decreasing term insurance the premium is constant through the term.

✅ The correct answer is D.
Indian Evidence Act act speaks about presumption of death. Presumption of death is governed by sections 107 and 108 of the Evidence Act, which allows for presumption of death for a person missing for 7 years to be raised in appropriate proceedings before the court.

✅ The correct answer is B.
Empathy is reflected in the caring attitude and individualized attention given to customers. Empathy is, at its simplest, awareness of the feelings and emotions of other people.

✅ The correct answer is D.
It would be advantageous to Revive a lapsed policy rather than taking a new policy. Most apt reason is -Premium under a new policy would be more based on his latest age.

✅ The correct answer is D.
First salary is the right time to start financial planning. Financial planning is the process of developing a personal roadmap for your financial well being.

✅ The correct answer is A.
Inpatient is an insured who undergoes treatment after getting admitted in a hospital.

✅ The correct answer is A.
Personal pensions are a type of defined contribution pension scheme.They are individual contracts between you and the pension provider and are set up by you, the member. The pension provider is often an insurance company, although there are also a number of independent providers.

✅ The correct answer is D.

✅ The correct answer is C.
Early claim and Non-early claim both are death claim. If the life assured dies during the term of the policy, the death claim arises. If the death has taken place within the first two years of the commencement of the policy, it is called an early death claim and if the death has taken after 2 years, it is called a non early death claim.

✅ The correct answer is A.
In early death claim insurer order an investigation. Several situations can result in later payment of a claim. If the insured died within the first one to two years after the policy was issued, beneficiaries could face delays of six to 12 months. The reason: the one- to two-year contestability clause, says Huntley. “Most policies contain this clause, which allows the carrier to investigate the original application to ensure fraud was not committed.