Insurance mcqs

✅ The correct answer is C.
Knowledgeable people comfortable with equity is most to buy variable life insurance. Variable life insurance is a permanent life insurance policy with an investment component. The policy has a cash value account, which is invested in a number of sub-accounts available in the policy.

✅ The correct answer is B.
House loans are not a part of insurance planning. It is a bank loan.

✅ The correct answer is B.
The value of the units of a Unit Linked policy is termed as Net Asset Value. Net asset value (NAV) is the value of an entity’s assets minus the value of its liabilities, often in relation to open-end or mutual funds, since shares of such funds registered with the U.S. Securities and Exchange Commission are redeemed at their net asset value.

✅ The correct answer is D.
In costumer relationship the first impression is created By being on time, showing interest and being confident.

✅ The correct answer is D.
A free look period is a period where a new insurance policy owner is able to terminate the contract without penalties such as surrender charges.

✅ The correct answer is D.
Consent is not said to be free when it is caused by Coercion, Fraud and Misrepresentation.

✅ The correct answer is C.
Perpetuity is an annuity with an infinite life and continuous annual payments. As the name suggests, perpetuity is a bond or security with no fixed maturity date.

✅ The correct answer is A.
Surrender process does not cover Estate planning. Estate planning is the preparation of tasks that serve to manage an individual’s asset base in the event of their incapacitation or death.

✅ The correct answer is C.
Pensions are said to represent the flip side of life insurance because Life insurance provides protection against premature death whereas pension covers the contingency of living too long and In life insurance premium payments result in creation of sum assured. In case of pensions, the corpus gets liquidated by regular income payments.

✅ The correct answer is D.
All the above are correct under special revival.
It is as though a new policy is issued by altering DOC, The maturity date also gets altered and difference between old and new premium is payable.