Question

What is a key requirement for the language used in the Key Feature Document?

a.

It should be complex and technical

b.

It should be simple and easy to understand

c.

It should contain industry-specific jargon

d.

It should be lengthy and detailed

Answer: (b).It should be simple and easy to understand Explanation:The language used in the Key Feature Document should be simple to ensure policyholders can easily comprehend the information provided.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What is a key requirement for the language used in the Key Feature Document?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. Why should the Key Feature Document be a separate item and not part of other literature?

Q. What should the Key Feature Document explicitly highlight?

Q. What font size should the title of the Key Feature Document be?

Q. In what languages should the Key Feature Document be available?

Q. What is the primary goal of the Insurance Regulatory and Development Authority (IRDA) regarding insurers' guidelines?

Q. What is emphasized regarding transparency at the time of sale and promotion?

Q. What languages should forms and documents be made available in?

Q. What should the proposal form avoid?

Q. What is the primary purpose of a policy bond?

Q. Within what timeframe can a customer cancel a life insurance policy under the free-look period option?

Q. What is the purpose of the Insurance Ombudsman?

Q. What obligation does every insurer carrying on life insurance business have regarding policy lapses?

Q. Within what timeframe must a life insurance company settle or dispute a claim?

Q. What is the motive behind the Key Feature Document?

Q. What is the temporary insurance certificate issued to the customer before issuing the insurance policy known as?

Q. Within how many days should a proposal be processed by the insurer?

Q. Free look option has to be exercised within how many days?

Q. ___________was created by the Government of India for quick disposal of grievances of the insured customers.

Q. What is the penal interest that the insurance company has to give to the claimant in case of delay in payment of claim?

Q. What should be the font size of the Key Feature Document?

Recommended Subjects

Are you eager to expand your knowledge beyond IC 14 Regulations of Insurance Business? 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!