Business Insurance _2023

Which of the following are NOT the benefit of proposing LTRP Solution to your customer?

• Retention of key employees

• Tax free maturity and death benefits

• Deferment of tax for the employee

• Saving tax under section 37(1)

Under key man insurance what is the max SA that can be offered?

• 12 times of keyman CTC, 5 Times of Average gross profit for past 3 Years, 3 Times of average net profit for the past 5 Years which ever is Higher

• 10 times of keyman CTC, 3 Times of Average gross profit for past 3 Years, 5 Times of average for the past 3 Years which ever is Lower

• 10 times of keyman CTC, 5 Times of Average gross profit for past 3 Years, 3 Times of average for the past 3 Years which ever is Higher

• 12 times of keyman CTC, 5 Times of Average gross profit for past 3 Years, 3 Times of average for the past 5 Years which ever is lower

Who all can be the beneficiary under MWPA Act, select the correct answer from the following?

• Wife

• Children

• Wife & Children

• All the Above

Which of the following plans can be given under Employer -Employee scheme?

• Sanchay par advantage deferred income

• Sanchay par advantage immediate income opt

• Sanchay plus longterm income

• Sanchay par advantage deferred income and Sanchay Plus Long term Income

Which of the following condition is NOT true in case of LTRP?

• Employee should be withdrawing salary

• There should be a minimum lock in period

• Policy will be proposed by the employer

• Policy will be assigned to employer after the lock in period

State the below statement True or False

In Key man Insurance policy the death benefit will be Tax free

• True

• False