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Insurance Awareness Quiz 8 (20 MCQs)

Quiz Instructions

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1. Insurance companies' ability to pay the claims of policyholders is termed as .....
2. ..... is the age at which the receipt of pension starts in an insurance-cum-pension plan.
3. The legal process by which an insurance company, after paying a loss, seeks to recover the amount of the loss from another party who is legally liable for it is termed as .....
4. When was the Insurance Regulatory and Development Authority constituted?
5. ..... plans provide for a "pension" or a mix of a lump sum amount and a pension to be paid to the policyholder or his spouse.
6. The party to whom the rights of the insured under a policy are transferred is known as .....
7. A form of annuity contract that gives purchasers the freedom to choose among certain optional features in their contract is known as .....
8. ..... is a coverage for glass breakage caused by all risks.
9. A policy which has terminated and is no longer in force due to non-payment of the premium due is called .....
10. When was the Oriental Life Insurance Company established?
11. A risk transfer mechanism whereby one party assumes the liability of another party by contract is known as .....
12. A form of long-term care policy that covers a policyholder's stay in a nursing facility is called .....
13. If you stop paying the premium, but do not withdraw the money from your policy, then the policy is referred to as .....
14. Auto insurance coverage that pays for each driver's own injuries, regardless of who caused the accident is called .....
15. When did insurance begin in Babylon?
16. A period of up to one month during which the purchaser of an annuity can cancel the contract without penalty is known as .....
17. "With Us, You're Sure" is the tagline of which insurance company?
18. ..... is a coverage up to specific limits for the cost of ransom or extortion payments and related expenses
19. ..... is an actual ownership interest in a specific asset or group of assets.
20. .....is the period between the date of subscription to an insurance-cum-pension policy and the time at which the first instalment of pension is received.
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