Insurance is actually a contract between the insurance company and the insured, under this contract, the insurance company takes a fixed sum of money (premium) from the insured and pays the insured or company damages in the event of any loss according to the terms of the policy. Insurance is an effective weapon to deal with any future losses. We do not know what will happen tomorrow, so we try to compensate for the possible loss in the future through an insurance policy. Insurance means protection from risk. If an insurance company insures a person, then the insurance company will compensate for the financial loss caused to that person. In this situation, the insurance company gives compensation to its owner according to the pre-fixed condition. Let's know more about Insurance.
1. Which of the following is the type of insurance?
A. Life Insurance
B. General Insurance
C. Both of the above
D. None of these
2. Which insurance comes under general insurance?
A. House insurance
B. Motor vehicle insurance
C. Crop Insurance
D. All of the above
3. The amount paid for insurance is called:
A. Closing cost
B. Premium
C. Deductible
D. None of these
4. Insurance that protects your family against financial loss due to your death is called:
A. Coinsurance
B. Disability insurance
C. Life insurance
D. All of the above
5. The insurance that provides protection against financial loss from medical bills is called:
A. House insurance
B. Health insurance
C. Life insurance
D. Motor insurance
6. The car insurance that covers damage to your OWN motor vehicle is:
A. Collision
B. Comprehensive
C. Uninsured motorist
D. All of the above
7. You can't work due to an injury, this type of insurance will pay you a portion of the income you lose:
A. Disability
B. Health
C. Premium
D. All of the above-mentioned
8. In which insurance should pay for damages if a tree goes through your roof?
A. Homeowners
B. Product
C. Health
D. None of these
9. What does renters insurance cover?
A. Personal items the tenant owns
B. Earthquake
C. The damage to the property
D. All of the above
10. Which of the following Life Insurance policy only pays a beneficiary when a person dies during a pre-determined time period?
A. Comprehensive
B. Whole Life Insurance
C. Term Life Insurance
D. Variable Life Insurance
11. When was Pradhan Mantri Jeevan Jyoti Bima Yojana launched?
A. 09 May 2014
B. 09 May 2015
C. 09 May 2017
D. 09 May 2019
12. PMJJBY is a renewal term insurance policy that, provides a yearly life insurance coverage of:
A. ₹ 200
B. ₹ 2,000
C. ₹ 2,00,00
D. ₹ 2,00,000
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