Question
a.
To maximize profits for insurance companies
b.
To benefit individual policyholders only
c.
To provide social security
d.
To compete with government-sponsored schemes
Posted under IC38 Life Insurance Agent Exam
Interact with the Community - Share Your Thoughts
Uncertain About the Answer? Seek Clarification Here.
Understand the Explanation? Include it Here.
Q. What is the ultimate objective of insurance covers offered on a commercial basis by the insurance industry?
Similar Questions
Explore Relevant Multiple Choice Questions (MCQs)
Q. Which of the following is a government-sponsored social security scheme in India?
View solution
Q. How do insurers contribute to social security in India?
View solution
Q. Which act provides for the payment of expenses related to sickness, disablement, maternity, and death for industrial employees and their families in India?
View solution
Q. What is the role of social security schemes in relation to insurance?
View solution
Q. How does insurance contribute to a country's economy?
View solution
Q. What do general insurers do before accepting large complicated risks?
View solution
Q. Why do many banks and financial institutions insist on property insurance?
View solution
Q. What role does insurance play in terms of investment and entrepreneurship?
View solution
Q. How do insurance companies collect and use premiums?
View solution
Q. What is the foundation principle of insurance?
View solution
Q. What is the obligation of the insurer when the customer pays the premium?
View solution
Q. According to IRDAI regulations, what must be done if the proposal and related documents are not filled by the customer?
View solution
Q. What responsibility do intermediaries, such as Agents, have towards the customer according to IRDAI regulations?
View solution
Q. What is the role of Third Party Administrators in the insurance industry?
View solution
Q. Who are the intermediaries in the insurance industry?
View solution
Q. What is the role of the Insurance Regulator in the insurance market?
View solution
Q. Who are the major players in the insurance industry?
View solution
Q. Which among the following scenarios needs insurance?
View solution
Q. When is it best to insure assets?
View solution
Q. What is the importance of not risking more than one can afford to lose?
View solution
Recommended Subjects
Are you eager to expand your knowledge beyond IC38 Life Insurance Agent Exam? 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!