Intro + Life

What is a “term insurance” policy?

• Life coverage with returns

• Short-term car policy

• Life coverage for a specific period

• Life insurance with pension

Who receives the claim amount after the policyholder’s death?

• Agent

• Insurance company

• Nominee

• Bank

What is the maturity benefit in a life insurance policy?

• Bonus from the government

• Amount paid to nominee after death

• Amount paid to the policyholder at the end of policy term

• Penalty refund

Which of the following is a benefit of life insurance?

• Free government services

• Guaranteed job offer

• Financial protection and tax benefit

• Free health checkup

What is a "whole life insurance" policy?

• A policy that covers only accidental death

• A policy that provides coverage for the policyholder’s lifetime

• A policy that ends after 10 years

• A policy that covers health and medical expenses

What does "sum assured" mean in a life insurance policy?

• The amount paid to the policyholder if the policy is cancelled

• The amount payable in the event of the policyholder’s death or policy maturity

• The premium paid annually

• The fee charged by the insurance agent

Which type of life insurance policy is best suited for someone looking for a low-cost, temporary option?

• Whole Life Insurance

• Endowment Plan

• Term Life Insurance

• Money-Back Policy

What is a “rider” in life insurance?

• A bonus added to the policy amount

• An optional add-on benefit at an extra cost

• A type of policy renewal

• The amount payable in case of critical illness

What happens if the policyholder stops paying premiums in a life insurance policy?

• The policyholder gets a refund of all premiums paid

• The policy is terminated immediately

• A grace period is offered before the policy lapses

• The nominee is given the sum assured without any premium payment

What is life insurance?

• Insurance for house

• Insurance for health

• Insurance that provides financial protection against death

• Insurance for vehicles