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प्रश्न
Write Short Note on the following:
Types of life insurance policies
उत्तर १
The following are some of the various types of life insurance policies:
i. Whole life policy - Under this policy, the assured sum is paid to the beneficiaries only after the death of the insured.
ii. Endowment life assurance policy - Under this policy, the assured sum is paid either at the time of the death of the insured or at the expiry of the contract, whichever comes first.
iii. Money-back policy - Under this policy, the insured is paid a fixed percentage of the insured amount during the life of the policy. In addition to this, full insurance amount is paid to the dependents in case of the death of the insured before maturity.
iv. Joint life policy - This is a special type of policy that secures the life of two or more individuals against the payment of a fixed premium by those individuals or any one of them.
उत्तर २
The following are the various types of life insurance policies:
a. Whole life policy - Under this policy, the assured sum is paid to the beneficiaries only after the death of the insured.
b. Endowment life assurance policy - Under this policy, the assured sum is paid either at the time of the death of the insured or at the expiry of the contract, whichever comes first.
c. Term insurance policy - This policy is taken for a fixed period of time. The premium of this policy is fixed and is lower than any other life insurance policy. In case of untimely death, the amount is paid to the dependents of the deceased person, subject to conditions of the policy.
d. Money-back policy - Under this policy, the insured is paid a fixed percentage of the insured amount during the life of the policy. In addition to this, full insurance amount is paid to the dependents in case of the death of the insured before maturity.
e. Joint life policy - This is a special type of policy that secures the life of two or more individuals against the payment of a fixed premium by those individuals or any one of them.
f. Annuity policy - This is a type of policy in which the insured is paid the amount due in monthly, quarterly or annual instalments after he or she reaches a certain age.
g. Pension plan policy - This policy does not offer any kind of life insurance to the insured. Instead, it assures a fixed amount to be paid to the insured either for a lifetime or for a fixed period.
h. Unit Linked Insurance Policy (ULIP) - This insurance policy combines the benefits of life insurance policy and mutual
funds. A part of the amount invested in the policy is invested in equity shares, bonds or debt funds, while the remaining
part is used for life insurance
संबंधित प्रश्न
In India railways are owned and managed by......................................
- Private companies
- Government
- Individuals
Select the proper option from the options given below and rewrite the completed sentence.
Road transport is suitable for ________ distance.
Match the correct pairs:
| Group “A” | Group “B” | ||
| a. | RBI | 1 | Recurring deposit account |
| b. | Overdraft | 2 | 12 hours service |
| c. | Saving account | 3 | Withdrawals after fixed period of time |
| d. | ATM | 4 | Central Bank |
| e. | Fixed deposit account |
5 | Current Account |
| 6 | Salaried people | ||
| 7 | 24 hours service | ||
| 8 | Commercial bank | ||
| 9 | Cash credit | ||
| 10 | Withdrawal before fixed period of time. |
Match the correct pairs :
| Group “A” | Group “B” | ||
| a. | Life Insurance | 1 | Claim made by insured |
| b. | Mitigation of loss | 2 | Perishable goods |
| c. | Premium | 3 | Insurable interest |
| d. | Cold storage | 4 | Maximum loss |
| e. | Warehousing | 5 | Transfer of goods from one place to other |
| 6 | To minimise the loss | ||
| 7 | Imported goods | ||
| 8 | Principle of indemnity | ||
| 9 | Storage of goods | ||
| 10 | Payment made by policy holder |
Match the correct pairs:
| Group “A” | Group “B” | ||
| a. | Road transport | 1 | Government owned |
| b. | Rail transport | 2 | Co-operative societies |
| c. | Air transport | 3 | Self employed |
| d. | Postal department | 4 | Owned by private companies |
| e. | Courier services | 5 | Door to door service |
| 6 | Owned by individuals | ||
| 7 | Costliest means of transport | ||
| 8 | Huge carrying capacity | ||
| 9 | Difficulty in transport | ||
| 10 | Cheapest means of transport |
Write a word or phrase or a term which can substitute the following:
An account where fixed amount is kept for a specific period.
Write a word or phrase or a term which can substitute the following:
The policy under which cargo is insured for a specific period & voyage.
Write a word or phrase or a term which can substitute the following:
A device through which calls and messages can be sent and received
Write a word or phrase or a term which can substitute the following:
Means of transport carrying bulk and heavy goods for international trade.
Distinguish between the following:
Cheque & Bank Overdraft
Write Short Note on the following:
Road transport
State with Reasons whether the following statement is TRUE or FALSE.
The principle of indemnity applies to life insurance.
State with Reasons whether the following statement is TRUE or FALSE.
Insured must have insurable interest in the subject matter at the time of taking the policy.
State with Reasons whether the following statement is TRUE or FALSE.
An individual must always tries to minimise the loss by fire as far as possible.
State with Reasons whether the following statement is TRUE or FALSE.
Water transport is the costliest means of transport available.
Answer the following question:
Describe the role of transport in modern times.
State with reasons whether the following statement is True or False.
Transport is useful in raising standard of living.
