Insurance - Study Mode
[#661] Which is a not a personal characteristics contributing to tendency to disease?
Correct Answer
(D) Need
Explanation
Solution: Need is a not a personal characteristics contributing to tendency to disease.
[#662] Whose obligation is to pay claim?
Correct Answer
(A) Insurer
Explanation
Solution: Insurer obligation is to pay claim. When a policyholder files a claim under his or her own insurance policy, the insurer has certain obligations to the insured and has a duty to act with good faith in handling that claim.
[#663] Which of the following is not an event triggering claim?
Correct Answer
(C) Age
Explanation
Solution: Age is not an event triggering claim. A triggering event is an occurrence which causes a reaction such as an age milestone in life which changes the terms of an insurance contract.
[#664] Which of the following policy, survival benefits are payable?
Correct Answer
(B) Moneyback
Explanation
Solution: Moneyback policy, survival benefits are payable. Money back policy provides accidental death and disability benefit riders.
[#665] Surrender value is a %age of _________
Correct Answer
(C) Paid up value
Explanation
Solution: Surrender value is a %age of Paid up value. Surrender value is the amount payable to the policyholder should he decide to discontinue the policy and encash it. It is payable only after three full years' premiums have been paid to the insurance company.