Insurance mcqs

✅ The correct answer is D.
Assignee can do another Assignment but cannot do Nomination.

✅ The correct answer is C.
Underwriting is a needed exercise in today’s environment of inadequate coverage of population for life insurance.

✅ The correct answer is D.
Imperial Bank of India has started as a private shareholders bank, mostly by European shareholders.

✅ The correct answer is B.
Pension may alleviate poverty but are not sufficient to maintain even a modest life style.

✅ The correct answer is D.
A claim by death within three years of commencement is defined as an early claim. When a person with a life insurance policy – called a life assured – dies, a claim intimation should be sent to the insurance company as early as possible.

✅ The correct answer is A.
At Post retirement stage in one’s life will savings make an impact on him.

✅ The correct answer is B.
A deductible is usually mentioned in Dollar. Often, the deductible on your insurance plan will be a concrete dollar amount, but there are notable exceptions.

✅ The correct answer is C.
A claim arising within three years of taking a policy is called an Early claim.

✅ The correct answer is C.
Bribe is not a valid consideration for a contract. Bribery is the act of giving or receiving something of value in exchange for some kind of influence or action in return, that the recipient would otherwise not offer.

✅ The correct answer is D.
Mortgage Redemption Insurance is nothing but decreasing Term Insurance. An MRI is a form of life insurance that pays off a part or the whole of the insured’s outstanding mortgage balance in case of his or her death or total disability.