Q. What is emphasized regarding the provision of information to policyholders?

View solution

Q. Which regulations prescribe the duties and obligations of insurers and intermediaries, both pre- and post-sales?

View solution

Q. What is the role of IRDA in comparison to SEBI?

View solution

Q. What do ULIP products combine?

View solution

Q. What does the term "cover" refer to in the insurance industry?

View solution

Q. What is the purpose of a proposal form in insurance?

View solution

Q. What does "material" mean in the context of insurance?

View solution

Q. Which of the following misrepresentations is considered material in life insurance?

View solution

Q. What is included in a prospectus issued by an insurer?

View solution

Q. What does the post-sale stage of an insurance policy involve?

View solution

Q. What is the primary purpose of the point of sale in insurance?

View solution

Q. What should be clearly stated in the prospectus of an insurance product?

View solution

Q. What is the maximum allowable percentage of premium for all riders combined in relation to the main product?

View solution

Q. According to insurance regulations, what must be provided to the prospect to enable them to decide on the best cover?

View solution

Q. In which type of insurance is a proposal for grant of cover required to be evidenced by a written document?

View solution

Q. What languages may be used for the forms and documents used in the grant of cover?

View solution

Q. According to the regulations, who bears the onus of proof regarding any information not recorded in the proposal form?

View solution

Q. What action must the insurer take when the benefit of nomination is available?

View solution

Q. Within what period must the insurer communicate all decisions regarding proposals in writing?

View solution

Q. What is a policy bond?

View solution