Principles of Life Insurance
Principles of Life Insurance: Overview
This topic covers concepts, such as Basic Principle of Insurance, Indemnity, Subrogation, Contribution, Insurable Interest, and Proximate Cause.
Important Questions on Principles of Life Insurance
Which principle specifies an insured should not collect more than the actual cash value of loss?
_____ is the amount you pay to the insurance company to buy a policy.
Which of the following is NOT contained in the Declarations' page of the Personal Auto Policy (PAP)?
The amount which is payable by you during the premium paying term at regular intervals for a limited period as specified in the planned schedule is called?
An insurance cover that is linked with credit activities and aims to protect the credit is called _____.
The amount of risk retained by an insurance company that is not reinsured is termed as?
Portion of an auto insurance policy that protects a policyholder from uninsured and hit-and-run drivers is known as _____.
Insurance companies’ ability to pay the claims of policyholders is termed as _____.
Which refers damaged property an insurer takes over to reduce its loss after paying a claim?
What is an actual ownership interest in a specific asset or group of assets?
The persons who receive the proceeds or the benefits under the plan when the nominee is less than years of age are called?
If a policy holder stops paying the premium after three years, but does not withdraw the money from his policy, then the policy is said to be?
The amount paid by the policy holder before an insurance provider begins to pay any expenses is known as?
Which among the following is not a type of intermediaries in insurance business?
A policy holder can open how many e Insurance Account (eIA) to keep policies in electronic mode?
The amount which the policy holder will get from the insurance company if he exits the policy before maturity is known as?
What is the minimum paid up equity capital requirement to carry Reinsurance business in India?
What is the minimum paid up equity capital requirement to carry insurance business in India?
The situation where the benefits of insurance policy gets terminated due to non-payment of premium is called as?
An independent professional person registered under the Insurance Act who represents the insurance buyer to purchase the insurers policy is known as?
