Question

What are the two approaches to implementing employer-employee scheme?

a.

Approach 1: Employee is the life to be insured and the policyholder of the policy; Approach 2: Employer is the policyholder of the policy

b.

Approach 1: Employer is the policyholder of the policy; Approach 2: Employee is the life to be insured and the policyholder of the policy

c.

Approach 1: Employer and employee both are policyholders of the policy; Approach 2: Only the employee is the policyholder of the policy

d.

None of the above

Posted under IC22 Life Insurance Underwriting

Answer: (b).Approach 1: Employer is the policyholder of the policy; Approach 2: Employee is the life to be insured and the policyholder of the policy Explanation:The two approaches to implementing employer-employee scheme are Approach 1: Employer is the policyholder of the policy and Approach 2: Employee is the life to be insured and the policyholder of the policy.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What are the two approaches to implementing employer-employee scheme?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. How is the premium paid by the employer treated for tax purposes in employer-employee scheme?

View solution

Q. What is HUF?

View solution

Q. Who is the Karta in HUF?

View solution

Q. What is the role of Karta in HUF?

View solution

Q. Who are the coparceners in HUF?

View solution

Q. What is the status of daughters in HUF after marriage?

View solution

Q. Can the wife of the Karta become the Karta after his demise?

View solution

Q. Is an HUF eligible for tax deductions and exemptions?

View solution

Q. Can policies be financed from the HUF income for the benefits of only one member?

View solution

Q. Who will be the owner of a policy affected under HUF?

View solution

Q. Can an HUF earn income from investment of its funds?

View solution

Q. How is the insurance cover amount for an HUF policy calculated?

View solution

Q. What is the Married Women's Property (MWP) Act?

View solution

Q. What is the provision of Section 6 of the MWP Act?

View solution

Q. Who can be the beneficiary under the MWP Act?

View solution

Q. Can the beneficiaries of policies taken under the MWP Act be changed by the proposer at any time?

View solution

Q. Who can claim the benefits of policies taken under the MWP Act?

View solution

Q. What is the difference in beneficiary specification for Mohammedan and Non-Mohammedan proposers under the MWP Act?

View solution

Q. How can the cover amount for a policy issued under the MWP Act be determined?

View solution

Q. What is the starting point for financial underwriting?

View solution
View All MCQs on IC22 Life Insurance Underwriting

Recommended Subjects

Are you eager to expand your knowledge beyond IC22 Life Insurance Underwriting? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!

International Relations

Navigate the complex world of International Relations with our dedicated category....

UIDAI Aadhaar Supervisor Certification

Prepare for the UIDAI Aadhaar Supervisor Certification with our specialized category....

Mass Transfer

Delve into the science of Mass Transfer with our specialized category. Explore...

Cell Biology

Delve into the fascinating world of Cell Biology with our specialized category....

Biology

Dive into the realm of life sciences with our Biology category. Explore the wonders...

Human and Cultural Diversity

Explore the rich tapestry of human societies with our Human and Cultural Diversity...

Microbiology

Uncover the fascinating world of microbes with our Microbiology category. Delve into...

Basic Chemical Engineering

Get a solid foundation in Chemical Engineering with our Basic Chemical Engineering...

Engineering Materials

Discover the building blocks of engineering with our Engineering Materials category....