WorksheetsQuiz- Explaining a Benefit Illustration
Total questions: 15
Worksheet time: 15mins
Benefit Lllustration (BI) is the tool to explain the benefits of Insurance plan to Customer.
False
True
Benefit Illustration shows?
SAM (Sum Assured on Maturity)
SAD (Sum Assured on Death)
Death Benefit, Survival Benefit & Maturity Benefit
All the above options are correct
All the above options are Incorrect
In Benefit Illustration,variable benefits we explain the Customer at?
only 4%
only 6%
only 8%
only 10%
Both 4% & 8%
Non PAR plans are having a Benefit Illustration with variable values of 4% & 8%?
True
False
PAR Plans are having Benefit Illustration with variable values of 4% & 8%?
True
False
Term Plans are having Benefit Illustration with varible values of 4% & 8%?
True
False
ULIP Plans are having Benefit Illustration with variable Values of 4% & 8%?
True
False
Now a days On TV which advertisement is coming frequently?
Sabse Pehle General Insurance
Sabse Pehle Health Insurance
Sabse Pehle Life Insurance
Sabse Pehle Home Insurance
Who has given the guidelines of explaining a Benefit Illustration at 4% & 8% returns?
Insurance Regulatory & Development Authority of India (IRDAI)
Life Insurance Council (LIC)
Ministry of Finance (MOF)
Reserve Bank of India (RBI)
In a Benefit Illustration under Non guaranteed benefits, 4% is minimum returns & 8% is maximum returns?
Yes
No
We should explain the impact of charges in ULIP Plans while explaining the Benefit Illustration to Customer.
True
False
ULIP Plans are showing guaranteed returns in a Benefit Illustration?
Yes
No
In a Benefit Illustration of ULIP Plan, Sum Assured is a guaranteed components?
Yes
No
Benefit Illustration can attract the customer to purchase the policy?
Yes
No
We should use the same Benefit Illustration for Insurance plans if there is a difference in Age, premiums & plans?
True
False
