Insurance Awareness Questions for Upcoming Insurance Exams
Insurance Awareness Questions for NIACL Assistant, NIACL AO, NICL AO, LIC AAO and other insurance exams. Insurance Awareness Questions Insurance terminology
- Selling of insurance product through banks is called?
- A person with expertise in field of economics, statistics and mathematics, who helps in risk assessment and estimation of premium rates for insurance business is known as ___ ?
- ______ is an amount paid periodically to the insurer by the insured for covering his risk by any insurance policy.
D) Paid up
- When all the benefits of an insurance policy gets terminated due to non-payment of premium, then the policy is said to be _____ .
A) Paid up
- ______ is the amount the policy holder will get from the insurance company if he exits the policy before maturity.
A) Paid up value
B) Surrendered value
C) Annuity Value
D) Lapse Value
- 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 ____.
C) Paid UP
- If a policy holder stops paying the premium after three years, but does not withdraw the money from his policy, the amount that he will get upon maturity of the policy is called _____.
A) Surrender Value
B) Semi Surrender Value
C) Paid Up value
D) Annuity Value
- Which of the term is the used when a policy has lapsed due to non-payment of premium?
A) Policy Backed
B) Policy Unforced
C) Policy in variance
D) Policy not in force
- ______ is an insurance product that pays out income to the holder at specified intervals usually after retirement.
- ________ is the term for the insurance that the insurance company buys for its own insurance.
A) General Insurance
B) Life Insurance
C) Re- Insurance
D) Public Insurance