Q. What was a major goal of the Life Insurance Corporation Act passed in 1956?

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Q. What significant event took place in the Indian insurance sector on 1st September 1956?

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Q. How did the Insurance Act of 1938 impact the Indian insurance sector?

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Q. Which was the first life insurance company to start functioning on Indian soil?

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Q. What was the significant contribution of Bombay Mutual Life Assurance Society in 1870?

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Q. What was the purpose of the Indian Life Assurance Companies Act enacted in 1912?

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Q. The Indian Insurance Companies Act was enacted in what year?

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Q. What was the primary objective of the Insurance Act of 1938?

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Q. In what year was the life insurance industry in India nationalized, leading to the formation of LIC?

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Q. When was the Indian insurance industry privatised, allowing foreign and private players to enter?

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Q. What best describes the nature of an insurance product?

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Q. What is a primary attribute of an insurance product?

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Q. How can the loss of an insurance document be addressed?

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Q. How does the term of an insurance product typically differ from other products?

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Q. What is a distinguishing feature of immediate annuity contracts?

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Q. How does an insurance product contribute to a person's financial security?

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Q. What financial problems may arise for the family in the event of the death of the life assured?

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Q. What financial problem does old age pose?

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Q. How do insurers address other financial needs?

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Q. What does political utility refer to in the context of product utilities?

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