LIFE AND GENERAL INSURANCE

What is the primary purpose of life assurance?

• A . Protecting against financial loss

• B. Providing coverage for specific risks

• C. Ensuring financial security for dependents

• D. Covering tangible assets

Which of the following is a characteristic of general insurance?

• A. Long-term coverage

• B. Savings component

• C. Covers a specific time period

• D. Provides retirement benefits

In life assurance, what is the key focus in terms of duration?

• A. Short-term coverage

• B. Medium-term coverage

• C. Long-term or lifetime coverage

• D. Coverage for specific events only

What type of risks does general insurance typically cover?

• A. Risks related to health

• B. Risks related to life events

• C. Risks related to property and liability

• D. Risks related to investment

Which one involves a savings or investment component?

• A. Life assurance

• B. General insurance

• C. Both

• D. Neither

What is the main focus of general insurance in terms of coverage?

• A. Protecting against loss of life

• B. Protecting against financial loss

• C. Accumulating wealth over time

• D. Providing retirement income

Which insurance type is commonly associated with medical coverage?

• A. Life assurance

• B. General insurance

• C. Both

• D. Neither

In life assurance, what is the role of beneficiaries?

• A. They receive the policyholder's saving

• B. They receive death benefits in case of the policyholder's demise

• C. They invest the policyholder's premiums

• D. They decide the coverage period

What is a significant factor in determining life assurance premiums?

• A. Age and health of the insured

• B. Market trends

• C. Type of property insured

• D. Geographical location

Which insurance type is more likely to involve periodic payouts during the coverage period?

• A. Life assurance

• B. General insurance

• C. Both

• D. Neither