Q. Under IRDAI regulations, what does "participative" mean in the context of an insurance plan?

View solution

Q. What does UIN stand for in the context of an insurance prospectus?

View solution

Q. What is the significance of the term "time-excess" in insurance policies?

View solution

Q. Which party typically owns salvage in insurance claims?

View solution

Q. In the context of insurance, what is subrogation?

View solution

Q. Which of the following information is typically included in an insurance prospectus?

View solution

Q. Which regulatory authority mandates the inclusion of Section 41 in an insurance prospectus to prohibit certain inducements?

View solution

Q. What does Section 41 in an insurance prospectus prohibit?

View solution

Q. Which of the following is not typically found in an insurance prospectus?

View solution

Q. What does the term "nomination" refer to in the context of an insurance prospectus?

View solution

Q. Which of the following it not usually part of the insurance prospectus?

View solution

Q. What is the purpose of a Proposal Form in the insurance application process?

View solution

Q. What is the "Principle of Utmost Good Faith" associated with when it comes to the Proposal Form?

View solution

Q. How long should the insurer take to provide a copy of the proposal submitted by the insured, as per IRDAI guidelines?

View solution

Q. Which party is responsible for ensuring the timely refund of a proposal deposit if it is refundable?

View solution

Q. In the insurance context, what does "duty of disclosure" refer to?

View solution

Q. What can be the format of a Proposal Form?

View solution

Q. How long does the insurer have to provide a copy of the proposal to the insured, as per IRDAI guidelines?

View solution

Q. In which stage of the insurance process does the duty of disclosure begin?

View solution

Q. What is the main consequence of providing incorrect or concealed information on the Proposal Form?

View solution