Q. What is the concept of "product suitability" introduced by IRDAI?

View solution

Q. What information is included in "suitability information" for insurance prospects?

View solution

Q. What are riders in life insurance products typically used for?

View solution

Q. Which among the following is an intangible product?

View solution

Q. Which type of insurance provides a series of periodical payments to the dependent beneficiaries instead of a lump sum amount?

View solution

Q. What is the primary purpose of a Term Life insurance plan?

View solution

Q. In October 2020, IRDAI introduced a Standard Individual Term Life Insurance Product called "Saral Jeevan Bima." What are the key features of this product?

View solution

Q. What additional benefit can be included in a Term insurance policy through a rider?

View solution

Q. When is term insurance typically provided as a stand-alone policy?

View solution

Q. What is the main benefit of Term Life insurance as an income replacement plan?

View solution

Q. What is the primary advantage of convertible term insurance policies?

View solution

Q. What is the unique selling proposition (USP) of term assurance?

View solution

Q. What is the primary characteristic of decreasing term assurance?

View solution

Q. In which scenario is term insurance typically relevant?

View solution

Q. What is a limitation of term insurance plans?

View solution

Q. How do whole life insurance premiums compare to term premiums?

View solution

Q. What is one way to use the cash value of a whole life insurance policy?

View solution

Q. What is the primary purpose of endowment assurance?

View solution

Q. What is a Money Back policy's primary characteristic?

View solution

Q. What makes Money Back plans attractive for policyholders?

View solution