Insurance mcqs

✅ The correct answer is A.
The higher the premium paid by you towards your life insurance, the higher will be the compensation paid to the beneficiary in the event of your death.

✅ The correct answer is D.
As part of Outpatient cover, Surgery could not be covered. Outpatient treatment is the term that most private medical insurance policies use for treatment which is given at a hospital which does not require you to stay in hospital overnight.

✅ The correct answer is C.
The insurance company will refund the premium after adjusting for proportionate risk premium for the period on cover, medical examination expenses and stamp duty charges.

✅ The correct answer is D.
AML programme of an insurance company includes Internal policies and controls, Appointment of a Principal Compliance Officer and Internal audit/control.

✅ The correct answer is C.
Non-forfeiture provisions means accrual of certain benefits to policyholders if premiums are paid for at least three years.

✅ The correct answer is B.
Voter ID Card is not a valid address proof.

✅ The correct answer is C.
Term Policy is ideally suited for One who has a low insurance budget. Term life insurance, also known as pure life insurance, is life insurance that guarantees payment of a stated death benefit during a specified term. Once the term expires, the policyholder can either renew for another term, convert to permanent coverage, or allow the policy to terminate.

✅ The correct answer is C.
There is material difference between a term insurance policy and an MRI as far as benefits are concerned.

✅ The correct answer is B.
Where the death claim monies is payable jointly more than one nominee is nominated.

✅ The correct answer is A.
In Life Insurance type of contract, the happening of event is certain but its timing is not known. The event insured against is sure to happen only the time of its happening is not known.