The min term is ________ years in smart kid policy

....10
Bonus interest _____________ paid on the additional credits.
...xxx...will be
...will not be
As per smart kid policy
...xxx...Age at entry (child) 5 12 years
Policyholder will receive a maturity benefit____________ the expiry of the polic
y term
...before
Min Premium in smart kid policy _______________
... Rs. 8400 p.a.
As per ForeverLife Pension Plan,once the policy holder is__________of age, the a
nnuity will be fixed for life and not reviewed thereafter
...xxx...65
Policy holder can exercise the assignment option to transfer control of the poli
cy to someone
...true
Full sum assured, along with the guaranteed additions at the rate of _______ com
pounded annually for the policy term and the vested bonuses are payable on death
, irrespective of the survival benefits paid against Cashbak
...xxx...0.025
Annuity plan consists of
...ForeverLife, LifeTime Pension II and InvestShield Pension
The annual fund related charge levied on the Unit Fund would be __________. This
charge will be adjusted from the Net Asset Values, which would be declared on a
ll working days.
...xxx...0.0225
It is the role of the _________ to gather all information, which might influence
the
insurance amount and provide them to the underwriting department.
....agent
In the unfortunate event of the death of the life assured, the nominee receives
the Sum Assured along with the higher of the value of the policyholder`s Unit Fu
nd
...True
In India, social security is in__________of the constitution.
...Article 41
Premium is ________ related to risk.
....directly
Which of these statements are true with respect to Lifeguard WROP target segment
?
...both options
Top ups will not be allowed in the last ____________ of the policy.
...3 years
Re insurers, _______________ the risk with the insurer.
....do not share
Compound interest
...determines the level of premium to be paid
Risk transfer means that an individual or an organisation transfers the risk to
someone else
...True
Surrender is a_________________ termination of a contract by a policy holder
... voluntary
Risk management involves
...all 3 options
Insurance companies also provide savings policies.
For economic development savings translate into investments to fund this develop
ment.
Savings channeled into investments imply economic growth.
Take a guess! What do you think would be the investment portfolio of LIC?
....More that 100,000 crores
Mr. Mahajan is a captain with a leading airline. He is 40 years old and is healt
hy.
He wants to take a term insurance. Which of the following statements should
Mr. Mahajan convey to the insurance advisor, as per the principle of Utmost Good
Faith.
...first 3
The minimum premimum under Save n Protect plan is
...xxx...5000
...xxx...4500
The function of LALGI is
...to extend benefits to economically weaker sections of the community
Revival without evidence of good health is applicable if
...xxx....The policy carries any death cover like pure endowment or deferred ann
uity plans
__________ is used with reference to financial protection against a possibility,
such as fire,
accidental damage, theft, etc.
....xxx...Assurance
In case of death before retirement, higher of the Sum Assured or the value of un
its
will be the death benefit as per_____________________Plan
....xxx...LifeLink Pension II
The Premium Allocation Charges for LifeLink Pension II is
...xxx...The allocation of the contribution will depend on the annual contributi
ons made
The fundamental principle underlying insurance is that it ___________________
...has to be popular and fair.
Life assurance is based on
...Compound interest
The duty of complete disclosure is that of both the parties and both insurer and
proposer must disclose all material facts to each other.
...True
Which of the following are true for InvestShield Cash
...all options
Utmost good faith is
...a Positive duty to disclose, accurately and fully, all facts material to the
risk being proposed, whether requested or not
InvestShield Life,is a regular premium Unit linked Plan ____________________
...with Capital Guarantee
Which of the following are true for Save n Protect plan
...all 4options
Mrs Rose took a money back policy 5 years back for a tenure of 20 years.She is e
xpecting
the first installment of the money back.Then which of the following claim is ap
plicable
to her?
...survival
Policyholder can avail of a loan under InvestShield Gold policy ___________
...after the policy has acquired a surrender value
Which of the following statements are true in the context of Life Insurance
...first 2 and last one
Which of these following are true as per smart kid policy
...all 3
Which of the following are true with Working of Annuity
...all 3 options
Events that must occur at some time, such as death, are provided for by ________
___
....xxx...insurance
Which of the following are true for InvestShield Gold
...all 4
The basic mechanism of insurance works with the principle that, people exposed t
o the same risks come together and pool funds to protect each individual against
risk. Therefore, risk is ________.
...spread out
In business parlance, there are two different branches of insurance, which are
..first one only
There are several schemes, which are offered to facilitate revival. Two fundamen
tal schemes are
...xxx...Revival with evidence of good health
Misrepresentation must be concerned with facts that are material to the acceptan
ce or
assessment of the risk.
...True
Which of the following are true for Life Time II Policy
...all 4
Which the following statements is true for the Insurance Proposal Form
...3rd and fifth
The exit option for LifeTime Pension II is
...xxx...Surrender of the policy is possible any time after the payment of the s
ingle premium.
Probability is a measure of the relative likelihood of an event occurring if tha
t is the clue
...Then Probability of 0 =Immpossible Probability of 1 =Certainity
Agents report provides
...all3
ForeverLifePension provides an option that _________the policyholder the flexibi
lity to buy a pension from any other insurer of his choice, at the time of vesti
ng.
...allow
Protection plan consists of
...Lifeguard ROP,Lifeguard WROP and Lifeguard SP
The minimum sum assured is ________________against Cashbak plan.
...Rs. 75,000
SmartKid is especially designed to provide flexibility and safeguard a
...both
LIC of India created a social security fund called LALGI
...true
The minimum amount of premium as per LifeTime Pension II are
...first 2
If the person to be insured tells an untruth, the contract will be voidable for
misrepresentation; if this person also suppresses a material fact, it will be vo
idable for nondisclosurex
...True
For an Insurance policy to come into force and remain in force, premium is the c
onsideration, which needs to be paid _____________
...on time
Which of the following are true for survival benefits?
...xxx...It is nonpayable before expiry of the full term of the policy, on assur
ance of life
survival
Which of the following are true as per LifeTime Pension II
...Minimum term is 15 years
Which of these following are true as per Life Time Plan
...Minimum Premium is Rs.18,000 p.a.
Which of the following are true for tax benefits against InvestShield Life
...all 3
Top up charges will be _________ of the top up payments made towards the policy
...xxx...less than 1%
Which of the following are true for Lifeguard SP
...all 3
For a policy to remain in force the premia needs to be paid
...Routinely as per the contract and within the stipulated grace period.
If a policy holder has not paid the premium and has died then ______________ a
s per the contract
...the insurer is not liable to pay
The minimum partial withdrawal amount has to be ____________
... Rs. 10,000.
Mr Kiran has taken a term policy. He wants his wife to be financially comfortabl
e
in case of any eventuality.Then what applies?
...Nomination
Which of the following are true for Premier Life
...first third and fourth
For grant of loan, the policy holder has to assign the policy in ____________.
...favour of the insurer
Insurance benefits society by way of
...first and third
Mr Khanna got insured at the age of 25 for 35 years. Today at the age of 50 he i
s expected
the maturity amount of his policy.Then which of the following claim is applicab
le to him?
...Maturity
Which of the following are true for maturity claims?
...all 3
It is __________ for an agent to support his customers during the claim stage
...very important
Which of the following are true for Lifeguard WROP
...all 4 options
The exit option for LifeLink Pension II is
...Surrender of the policy is possible any time after the payment of the single
premium
Based on the _________________tables the premium is calculated
...Mortality table
ForeverLife Pension Plan is a plan, which provides ________________
...regular income for life
Unit linked plan consists of
...InvestShield Life, InvestShield Cash, PremierLife, LifeTime and InvestShield
Gold
A___________ is a fact,which would influence the mind of a prudent underwriter i
n
deciding whether to accept a risk for insurance and on what terms.
... material fact
The Premium Allocation would be based on the________ contribution.
... annual
A Valid Contract should have
...all options
Revival of a policy is ______________ if the policy is in a lapsed condition for
more than
five years, as it would be more advantageous for the policy holder to go in for
a new policy.
...not advised
During the postponement of the vesting age __________________
...the client will be allowed to make top up premiums.
The form in which the application for insurance is made is called
...proposal form
LifeTime Pension II is a__________________ premium plan
...regular
Mr. Sawant wants to insure his 15 year old son and step son, who are students,
for Rs.3 Lakhs each.He can carry out the insurance contract if
...xxx....Mr. Sawant is assumed to be in the capacity to pay
...xxx...Mr. Sawant fundamentally adheres to the conditions of Indian Contract
Act, 1872
Father has an insurable interest in the life of the monor child and the child ha
s an insurable interest in the life of the father.
...true
The Premium Allocation Charges for LifeTime Pension II is
...xxx...The allocation of the contribution would depend on the first contributi
on made
Policy holder __________a nominee as the beneficiary, in case of a death claim
...can select
The mathematics of probability
...determines the level of premium to be paid
In this variant the premiums that are paid by the policyholder are returned at t
he end of the term i.e., on maturity to the policyholder.
...LifeGuard ROP
Mr Kiran has burrowed money from a private financer.He need to provide his insu
rance policy as a guarantee, which shall be returned after timely repayment of t
he loan. Then what applies?
...Assignment
For an Insurance policy to come into force and remain in force, premium is the c
onsideration, which needs to be paid _____________
...on time
Revival with evidence of good health is applicable if
...The policy was of endowment type and the arrears of premium are received in t
he
second year (within 12 to 24 months) prior to maturity date
In Cashbak the term is
...15 years and 20 years
Policyholders can _______________ their annual premium
...can increase or decrease
The state of being diseased is called _______
...morbidity
Risks that a proposer is exposed to can be of different variety, like, Occupati
onal, Lifestyle, _____________
...Medical
A village has 200 houses in it. Every year at least 5 houses get destroyed due v
arious reasons and need to be rebuilt. Every house costs Rs.1,000 to build. If y
ou were to run a simple insurance program for securing house owners, suggest the
amount you would like to take as premium.
...25
Non payment of premium lead to a _________________ of the policy
...lapse
Nominee can be altered by the life assured while Assignee ______________by the
assignor, the assignee has to re assign the policy.
...cannot be cancelled
There is _________ date of this Life Time II policy
...xxx...maturity
In Premier Life,the Top ups made after 5 years, there will be
...no charge
Which of the following are true for death claims?
...both
Nomination is a way to ensure easy payment of policy moneys in case of_________
claims
...death
This plan provides life protection in the most effective way and it is as inexpe
nsive as your daily newspaper.
...Lifeguard WROP
Which of the following are true as per LifeLink Pension II
...all options
Loans are generally granted upto
...last 2
ICICI Prudential presents _________ Retirement Plans
...3rd 4th and 5th options
The proposer is required to give statutory details about himself like
...1st and 2nd
ICICI Prudential offers the following category of product
...all 4
If death is certain, then what does Life insurance cover?
...last one
Endowment plan consists of
...SmartKid, Save n Protect and Cashback
In Premier Life,the minimum Top up amount is Rs. 5,000
...5000
If, there is no insurable interest during the time of application, then the ____
______
....policy will not be carried out.
There is a _________________proposal form for the risk covering own life and the
risk
covering the life of another person
....separate
The Min Sum Assured Rs. 1,00,000 and Max Sum Assured is____________ in smart kid
policy
... Rs. 30,00,000
Mrs Neeru took a term plan after she joined her first job,unfortunately,after on
ly 1 year into her aspiring carrer she died in a road accident. Her mother is pu
rsuing the insurance claim,in this situation which of the following claim is app
licable ?
...Early death
In case of death while travelling by mass surface transport, _________ the Sum A
ssured is paid against Accident and Disability Benefit riders in InvestShield L
ife
...twice
The term in InvestShieldLife is __________ years
...10 to 30
The customer can choose a vesting date once he is ______years of age. However, h
e has the option of postponing this vesting date till the age of 65 years
...45
As per the unitlinked investment the customers ______________ a specific level o
f protection as per their needs, based on a multiple of their annual premium
..can choose
The policyholder will have an option of terminating the policy before the end o
f the term chosen and the surrender value of the policy would ____________ from
year to year against InvestSheildLife.
...differ
People with similar characteristics are grouped together and are charged a
premium based on the ________________
...level of risk of the group
In Premium Allocation Administrative charges a fixed charge of Rs.20 per month w
ill be levied by cancellation of units
...xxx...False
Policy holder can exercise the assignment option to transfer control of the poli
cy to someone
...xxx...false

Which of the following are true as per LifeLink Pension II

Minimum premium in this plan is Rs. 50,000
Minimum term of the product is 3 years

Which of the following are true for Lifeguard SPWhich of the following are true
for Lifeguard SP
all three

Which of these following are true as per smart kid policy

1 and 3

Which of the following are true for InvestShield Gold

except....Minimum age at entry 10
Loans are generally granted upto
85% of the surrender value for paid up policies
90% of the surrender value for for paid up policies
Which of the following are true for Premier Life
all
Underwriting is carried out on the basis of the ________________ tables.
first three
SmartKid is especially designed to provide flexibility and safeguard a
all
Which the following statements is true for the Insurance Proposal Form
first three
Which of the following are true for Life Time II Policy
Minimum age of entry is 18 years for Level 2 Sum Assured
There is no maturity date; customer can make partial or complete withdrawals any
time after he has paid premium for full years
The customer has the choice of investment plan at the start of the policy and ca
n switch between investment plans during the term
Which of the folowing are true for InvestSheildLife
Minimum premium Rs. 8000 p.a / Rs. 4000 per half year / Rs. 667 p.m.Maximum age
at maturity 65 years
A Valid Contract should have
except...possibilities
The proposer is required to give statutory details about himself like
all
The minimum amount of premium as per LifeTime Pension II are
except ..monthly
If death is certain, then what does Life insurance cover?
Prevents loss of assets
Protects against loss of income of an individual
All policies terminate into a claim, which is of the type
Maturity
Survival or Death
Which of these statements are true with respect to Lifeguard ROP target segment?
all
In case of death before retirement, higher of the Sum Assured or the value of un
its
will be the death benefit as per_____________________Plan
LifeTime Pension II
Insurance companies also provide savings policies.
For economic development savings translate into investments to fund this develop
ment.
Savings channeled into investments imply economic growth.
Take a guess! What do you think would be the investment portfolio of LIC?
A___________ is a fact,which would influence the mind of a prudent underwriter i
n
deciding whether to accept a risk for insurance and on what terms.
material fact
__________ is used with reference to financial protection against a possibility,
such as fire,
accidental damage, theft, etc.
Assurance....xxxxxxx
Which of these statements are true with respect to Lifeguard SP target segment?
2,3,4.
LifeTime Pension II provides
2.
__________Is the duty to disclose all material facts relating to the risk to be
covered
Principle of Utmost Good Faith
Nominee can be altered by the life assured while Assignee ______________by the
assignor, the assignee has to re assign the policy.
can be cancelled....xxxxxxx
Mr. Mahajan is a captain with a leading airline. He is 40 years old and is healt
hy.
He wants to take a term insurance. Which of the following statements should
Mr. Mahajan convey to the insurance advisor, as per the principle of Utmost Good
Faith.
1,2,3.
Entry conditions for ForeverLife Pension are
1,2,3.
Which of these statements are correct for Lifeguard ROP?
1,3,4.
Revival of a policy is ______________ if the policy is in a lapsed condition for
more than
five years, as it would be more advantageous for the policy holder to go in for
a new policy.
advised...xxxxx