SURROGATES QUIZ - APRIL

What are the primary types of surrogates discussed in the document for income estimation?

• Financial assets, vehicle value, and monthly investments
• Salary slips, tax returns, and bank statements
• Property deeds, gold holdings, and art collections
• Stock options, business profits, and rental income

Which insurance products are these surrogates applicable for?

• IPS & IPROP - (except Business insurance)
• Only Business insurance
• All insurance products
• Term insurance only

What is the maximum Total Sum Assured (TSA) that can be considered when using surrogates for IPS?

• 2Cr TSA (IPRU+Other insurer)
• 1 Cr TSA
• 50 lacs TSA
• 5 Cr TSA

What is the maximum Total Sum Assured (TSA) that can be considered when using surrogates for IPROP?

• 2Cr TSA (IPRU+Other insurer)
• 1 Cr TSA
• 50 lacs TSA
• 5 Cr TSA

What is the maximum age limit for individuals using surrogates?

• 55 years
• 50 years
• 60 years
• 65 years

What is the minimum education requirement for individuals using surrogates?

• Graduation
• High School Diploma
• Undergraduate Degree
• Postgraduate Degree

What is the minimum credit bureau score required for using surrogates?

• 650
• 700
• 600
• 750

Which DRC categories are eligible for using surrogates?

• Preferred and Standard only
• High Risk and Medium Risk
• All categories
• Low Risk only

How is the annual income calculated when using Monthly SIP as a surrogate (as per page 2 and 4)?

• Monthly SIP * 60
• Monthly SIP * 12
• Monthly SIP * 24
• Monthly SIP * 30

What is the required document when using Monthly SIP as a surrogate for non-salaried individuals (as per page 4)?

• Last 6 months bank statement showing SIP deduction
• Latest bank statement showing SIP deduction for 1 month
• Annual SIP statement
• ITR showing SIP deductions