INSURANCE QUIZ

Among the life insurers, _________ is the sole public sector company.

• PNB METLIFE

• LIC

• ING VYSYA

• SBI LIFE INSURANCE

Whole life insurance is also known as:

• ENDOWNMENT POLICY

• TRADITIONAL INSURANCE POLICY

• ORDINARY LIFE INSURANCE

• UNIT LINKED INSURANCE

“It pays only if death occurs during the term of the policy, which is usually from one to 30 years.” Name the life insurance policy discussed

• ENDOWNMENT POLICY

• MONEY BACK POLICY

• ANNUITYTERM LIFE

• TERM LIFE INSURANCE

It is a saving linked Insurance policy with a specific maturity date

• ENDOWNMENT POLICY

• UNIT LINKED INSURANCE POLICY

• TERM LIFE INSURANCE

• MONEY BACK POLICY

It is wise to provide for old age, when we have regular income during our earning period to take care of rainy days. Which policy is highlighted in the above statement?  

• ANNUITY

• WHOLE LIFE INSURANCE

• MONEY BACK POLICY

• CHILDREN POLICY

The maturity benefit comes in instalments instead of Lump Sum at the end of the term of the policy.” Name the policy discussed

• ULIP

• ANNUITY

• MONEY BACK POLICY

• GROUP INSURANCE

“In case the insured survives the policy term, there is no return of premium.” Which life insurance policy is discussed

• ANNUITY

• WHOLE LIFE INSURANCE

• TERM LIFE INSURANCE

• GROUP INSURANCE

It is often used as part of a retirement portfolio.

• ANNUITY

• MONEY BACK POLICY

• CHILDREN POLICY

• GROUP INSURANCE

________ is a life insurance policy which provides a combination of risk cover and investment

• MONEY BACK POLICY

• ENDOWNMENT POLICY

• ULIP

• DEFERRED ANNUITY