Insurance mcqs

✅ The correct answer is A.
MRI policies is most suitable for a home loan mortgage. MRI is an insurance policy that provides financial protection for home loan borrowers and their families. Specifically, MRI helps settle outstanding home loan amounts in the event of death or total disablement of the borrowers.

✅ The correct answer is A.
In a ULIP claim before the date of maturity will give Higher of the sum assured or the fund value.

✅ The correct answer is C.
Primary care can be described as first point of contact for people seeking healthcare. Primary care includes health promotion, disease prevention, health maintenance, counseling, patient education, diagnosis and treatment of acute and chronic illnesses in a variety of health care settings (e.g., office, inpatient, critical care, long-term care, home care, day care, etc.).

✅ The correct answer is A.
Insurance is legitimate when an adverse happening is likely toh happen.

✅ The correct answer is D.
Mortgage Redemption policy is suited to clear off a client’s liability for mortgage loan. A mortgage redemption plan is an insurance that is available to those who take a home loan and corresponds to the quantum of loan that they take. The advantage of such a policy is that in case the insured dies during the loan repayment period, the insurance pays off the loan liability. This plan normally provides insurance cover only up to the age of 65 years because all loans are often liquidated by an individual by the time he reaches this age, if not by the time he retires at the age of 60 years.

✅ The correct answer is C.
In a Unit Linked plan, Sum insured or fund value which is higher is the death claim payable. The unit-linked insurance plans ( Ulips) provide both death and maturity benefits to the policyholder. If he dies during the term of the policy, the beneficiary will receive one of these: sum assured, the higher of the fund value and sum assured, or sum assured and the value of the fund, depending on the terms of the policy.

✅ The correct answer is B.
The process of offering shares of a private corporation to the public for the first time is called an initial public offering (IPO).

✅ The correct answer is C.
For admission of domiciliary hospitalization claim, the minimum period of medical treatment should be 3 days.

✅ The correct answer is C.
A claim occurring after three years is a non-early claim. IRDA has taken steps to settle claims older than 3 years too.

✅ The correct answer is D.
Matters of law, Fact which proposer was not aware and Fact which could have been discovered by reasonable diligence material facts need not be disclosed.