Insurance mcqs

✅ The correct answer is A.
With regard to Unit Linked policy, Ins. Co. bears the expense and mortality risk. These are charges to provide for the cost of insurance coverage under the plan. Mortality charges depend on a number of factors such as age, amount of coverage (sum assured) etc. and are deducted on monthly basis. This charge will be deducted proportionately from each of the fund(s) you have chosen.

✅ The correct answer is B.
Insurance are not a wealth accumulation product. Planning to accumulate wealth enables you to work effectively toward your goals.

✅ The correct answer is D.
Typical health ins. policies may exclude from cover routine expenses related to Plastic surgery, Dental treatment and Aesthetic treatment.

✅ The correct answer is D.
Minor is not eligible to enter into a contract. Minors are individuals who are under the age of 18. Minors are not considered to have legal capacity, meaning they do not have the ability to make contracts with other people. If a minor signs a contract, they have the ability to void the deal with certain exceptions.

✅ The correct answer is D.
Need is a not a personal characteristics contributing to tendency to disease.

✅ The correct answer is A.
Co-operative Banks in India has a three-tier set-up. State coop bank is apex coop institution in state. Central or districtcoop. Bank work at district level. At lowest level coop setup is primary credit agency which works at village level.

✅ The correct answer is C.
Under Defined Benefit type, the benefit payable is independent of Contributions and Investment earnings.

✅ The correct answer is A.
If a person’s proposal is declined under individual scheme, he cannot get insured even under the group policy. Hence, only statement A is correct.

✅ The correct answer is A.
Surplus is defined as Excess value of assets over liabilities. A surplus is the amount of an asset or resource that exceeds the portion that is utilized. A surplus is used to describe many excess assets including income, profits, capital, and goods.

✅ The correct answer is A.
In a policy document, it is now compulsory to indicate the address of the local Ombudsman.