Insurance - Study Mode

[#576] In what plan of insurance is medical examination never required?
Correct Answer

(A) Endowment

Explanation

Solution: In Endowment plan of insurance medical examination is never required.

[#577] Which is not a recent phenomenon in health insurance industry segment?
Correct Answer

(C) Standalone companies are specifically barred from covering rural masses

Explanation

Solution: Standalone companies are specifically barred from covering rural masses. Standalone companies are involved in government schemes to provide insurance to rural masses.

[#578] Who could not be a claimant under a policy?
Correct Answer

(D) Minor nominee

Explanation

Solution: Minor nominee could not be a claimant under a policy.

[#579] Annuities are not classified on the basis of –
Correct Answer

(D) Profits/Bonus

Explanation

Solution: Annuities are not classified on the basis of Profits/Bonus. Annuities are classified according to the nature of the payment and the duration of time for payment. If, however, the investment has fared poorly, the size of the payments decreases. A straight annuity is a contract by an insurance company to make variable payments at monthly or yearly intervals.

[#580] In a joint life annuity, what would happen to annuity payment if the spouse is to predecease the annuitant?
Correct Answer

(B) Annuity would cease

Explanation

Solution: In a joint life annuity, Annuity would cease if the spouse is to predeceased the annuitant.