FPSB® Risk and Estate Planning Specialist Quiz (Free Demo)

Insurance mandate set by IRDA for insurance sector

Which of the following distribution channels is exempted from the purview of the insurance regulator for selling insurance products?

Combination of traditional protection and savings function of life insurance with the growth potential of equity.

Least likely common concern for a beneficiary is _____.

What are the governing principles of Christian that will determine their inheritance?

Rahul has a health insurance plan with deduction of 30000 Rs. Having sum assured of 10 Lac with coinsurance provision of 80: 20. If there is a claim of 6 lac what will be the amount of claim Paid?

Deductibles in an insurance policy is a form of:

—offer some of the growth potential of the stock market with the downside protection of a guaranteed annuity

What will be the total amount of premium allowed as deduction under section 80 D for an individual who has taken a family floater plan covering spouse and two children paid premium of 35000 and for his parents above age 60 paid premium 52000?

Bonuses paid as a percentage of the sum assured at the time of maturity or at the time of policy surrender during the policy term or on the death of the life assured, are called—

If a person takes a life insurance policy for:

What is the amount of premium allowed as deduction under Section 80C of Income Tax Act?

Sarita had bought two high-end sewing machines required for her work for a total cost of Rs 2.80 lakh in July 2020. Upon installation, Sarita took an insurance cover of Rs 2.30 lakh for loss or damage to her machines due to any electrical or mechanical breakdown. Meanwhile, the market price of a similar set of two new machines has declined to Rs 2.50 lakh in the last one year. The depreciation rate prescribed for similar equipment is 30% on straight line method.
What sum insured would you recommend to Sarita at the time of her renewal of the policy in July 2021?

Dashrath had bought a home in July2014 where the land was purchased in 50 Lac and construction cost was 1 Cr. During this period the construction cost has increased with 8% and if depreciation (SLM) is charged at the rate of 2% then What sum insured would you recommend to Sarita at the time of her renewal of the policy in July 2021?

— means transfer of the right, title and interest of the life insurance policy from one person to another