Insurance - Study Mode

[#456] True reward for a successful agent is
Correct Answer

(D) All of the above

Explanation

Solution: True reward for a successful agent is Job satisfaction on performing a challenging role to influence his client to go in for his life’s protection, Recognition in his circles as a knowledgeable and ethical life insurance adviser with social respect and Handsome income through hard work by winning the trust and confidence of his clients

[#457] Life Insurance marketing differs from marketing of products and services because
Correct Answer

(D) All of the above

Explanation

Solution: Life Insurance marketing differs from marketing of products and services because Life insurance needs to be sold, rather than bought, Life insurance is intangible unlike a tangible product and Value of life insurance is not seen at the time of purchase unlike a consumable product.

[#458] What is known as cold call?
Correct Answer

(A) It is direct approach of the prospect for insurance purposes without any prior announcement or appointment

Explanation

Solution: It is direct approach of the prospect for insurance purposes without any prior announcement or appointment. Cold calling is a technique in which a salesperson contacts individuals who have not previously expressed interest in the offered products or services. Cold calling typically refers to solicitation by phone or telemarketing, but can also involve in-person visits, such as with door-to-door salespeople.

[#459] Key to successful closing is helping the prospect to say
Correct Answer

(C) Yes

Explanation

Solution: Key to successful closing is helping the prospect to say Yes.

[#460] Limit of FDI in Insurance sector:
Correct Answer

(A) 74%

Explanation

Solution: Parliament on 22 March 2021 passed the Insurance Amendment Bill 2021 to increase the foreign direct investment (FDI) limit in the insurance sector to 74% from 49% in an attempt to attract more overseas insurance players to India.