Insurance Awareness Quiz Set 5

In this page, Insurance Awareness Quiz Questions And Answers Are available along with a detailed explanation. For practice session to the candidates, we have uploaded the Questions and Answers in this article. For all competitive Exams, these questions are helpful and also for an Interviews.

Insurance Awareness Quiz Set 5

1. The Payment to the policyholder at the end of the stipulated term of the policy is called _______

2. The one who will get the insured amount if you die, is referred to as __________

3. The person in whose name the insurance policy is made is referred to as __________

4. ________ is the amount of money an insurance policy guarantees to pay before any bonuses are added.

5. Which of the following is an optional feature that can be added to a policy?

6. __________ is the amount the insurance company has to pay you when the policy matures that would also include the sum assured and the bonuses.

7. If you stop paying the premium but do not withdraw the money from your policy, then the policy is referred to as ________

8. __________ refers to the insurance company that offers the policy.

9. If you might want to discontinue the policy, and take whatever money is due to you. The amount the insurance company then pays is known as _________

10. The payment of sum assured to the insured person which has become due by instalments under a money back policy is known as ______

11. __________is the period between the date of subscription to an insurance-cum-pension policy and the time at which the first instalment of pension is received.

12. __________ is an actual ownership interest in a specific asset or group of assets.

13. The person who receives the proceeds or the benefits under the plan when the nominee is less than 18 years of age is called _____

14. Which principle specifies an insured should not collect more than the actual cash value of a loss?

15. The amount which is payable by you during the premium paying term at regular intervals for a limited period as specified in the plan schedule is called________

16. Which is used to determine the actual cash value of property at time of loss?

17. _______ plans provide for a “pension” or a mix of a lump sum amount and a pension to be paid to the policyholder or his spouse.

18. _________ is a type of reinsurance in which the re-insurer can accept or reject any risk presented by an insurance company seeking reinsurance.

19. ________ is the amount you pay to the insurance company to buy a policy.

20. A policy which has terminated and is no longer in force due to non-payment of the premium due is called ______



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