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POS GRIP Quiz

Total soal: 10

Worksheet time: 5mins

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1.

In Guaranteed Return Insurance Plan, On Maturity Life assured will get

a)

Guaranteed Maturity Payout of 225% to 325% of the Basic Sum Assured

b)

Guaranteed Maturity Payout of 225% to 325% of the total Premiums Paid

c)

Guaranteed Maturity Payout of 225% to 325% of the Basic Sum Assured Plus Accrued Bonus

2.

Aegon Life POS Guaranteed Return Insurance Plan (GRIP) is

a)

A Non-Linked Participating Life Insurance Plan

b)

A Non-Linked Non-Participating Life Insurance Plan

3.

Mr Ajay (Age 35 years) opts for Aegon Life POS Guaranteed Return Insurance Plan. His plan details are:

• Basic Sum Assured: ₹ 291,371

• Policy Term: 15 years

• Premium Payment Term: 9 years

• Annualized Premium: ₹50,000. He survives the complete Policy Term, calculate Maturity Benefit.

a)

6,26,448/- will be paid as lump sum on maturity

b)

10,09,899/- will be paid as lump sum on maturity

c)

8,01,270/- will be paid as lump sum on maturity

4.

Mr Ajay (Age 35 years) opts for Aegon Life POS Guaranteed Return Insurance Plan. His plan details are:

• Basic Sum Assured: ₹ 291,371

• Policy Term: 15 years

• Premium Payment Term: 9 years

• Annualized Premium: ₹50,000. In case of Mr Ajay dies at the start of the 14th Policy year, Calculate Death Benefit.

a)

7,42,996/- will be paid as death benefit and plan will close

b)

8,78,782/- will be paid as death benefit and plan will close

5.

Age Entry & Maturity Age criteria in POS GRIP

a)

Age Entry: 1-50 Years/ Maturity Age: 18-70 Years

b)

Age Entry: 1-55 Years/ Maturity Age: 18-65 Years

c)

Age Entry: 1-50 Years/ Maturity Age: 18-65 Years

d)

Age Entry: 1-55 Years/ Maturity Age: 18-75 Years

6.

Premium Payment Term (PPT) & Policy Term (PT) options available in POS GRIP

a)

PPT : 5/7/9 Years & PT : Any term between 10 to 20 Years

b)

PPT : 5/7/9 Years & PT : 10 years or 20 Years

c)

PPT : 5/7/9 Years/ Equal to Policy Term & PT : Any term between 10 to 20 Years

7.

Mr Ajay (Age 35 years) opts for Aegon Life POS Guaranteed Return Insurance Plan. His plan details are:

• Basic Sum Assured: ₹ 291,371

• Policy Term: 15 years

• Premium Payment Term: 9 years

• Annualized Premium: ₹50,000. In case of Mr Ajay dies (natural Death) after 32 days, what benefit will be paid to nominee?

a)

The beneficiary will receive 100% of the premiums paid till the date of death (excluding any taxes). During waiting period of 90 days the Death Benefit will not be payable.

b)

5,00,000/- will be paid & Plan will be closed

8.

Mr Ajay (Age 35 years) opts for Aegon Life POS Guaranteed Return Insurance Plan. His plan details are:

• Basic Sum Assured: ₹ 291,371

• Policy Term: 15 years

• Premium Payment Term: 9 years

• Annualized Premium: ₹50,000. In case of Mr Ajay dies (Accidental Death) after 32 days, what benefit will be paid to nominee?

a)

5,00,000/- will be paid & plan will close

b)

No death benefit paid as death occurred within 90 days

9.

Which medical grid will be applicable for POS GRIP

a)

No Medical Grid will be applicable as it's non medical product

b)

Yes, Medical Grid same as other Savings Plan

10.

How much Guaranteed Addition will be accrued on maturity for PPT of 7 Years & PT of 20 Years?

a)

90% of Basic Sum Assured

b)

200% of Basic Sum Assured