Q. What is the main purpose of Mortgage Redemption Insurance (MRI)?

View solution

Q. What is the primary purpose of Keyman Insurance?

View solution

Q. What does the Married Women's Property Act ensure regarding a life insurance policy taken under it?

View solution

Q. Under which act does Section 6 provide for the security of benefits under a life insurance policy to the wife and children?

View solution

Q. Who is Mortgage Redemption Insurance (MRI) suitable for?

View solution

Q. How does the insurance cover in MRI differ from a standard term insurance policy?

View solution

Q. What is the primary purpose of Mortgage Redemption Insurance (MRI)?

View solution

Q. What is another common term used for "Mortgage Redemption Insurance"?

View solution

Q. Who pays the premium for Keyman Insurance?

View solution

Q. What type of losses can Keyman Insurance provide compensation for?

View solution

Q. Who can be considered a key person in the context of Key-man Insurance?

View solution

Q. What is the primary purpose of Key-man Insurance for businesses?How is Keyman Insurance different from traditional life insurance?

View solution

Q. What is the primary purpose of Key-man Insurance for businesses?

View solution

Q. What is the main benefit of setting up a trust under the Married Women's Property Act for life insurance policies?

View solution

Q. What happens if a policyholder does not appoint a special trustee for a policy under the MWP Act?

View solution

Q. What is the significance of appointing a trustee for a life insurance policy under the MWP Act?

View solution

Q. What happens to the proceeds of a life insurance policy held under the Married Women's Property Act as long as the trust's objectives remain?

View solution

Q. Under Section 6 of the Married Women's Property Act, what is the purpose of creating a trust when a married man takes a life insurance policy?

View solution