Insurance GK Questions

1.Which of the following Insurance Companies was launched with NABARD as one of its promoter’s with 30% stake in it ?

General Insurance Corporation Ltd. 

National Insurance Cornpany Ltd 

Agriculture Insurance Company Ltd 

SBI Life Insurance Company Ltd

2.Which of the following correctly describes what the ‘Bancassurance’ is

It is an arrangement whereby the branches of a bank sell / distribute insurance products of an insurance company. 

It is a new product developed/ launched by the banks in which the risks of the high value customers are covered for any losses to their property and/or lives through an insurance cover. 

It is a new product launched by some banks by which they are providing insurance cover to exporters/ importers for the losses, if any due to high fluctuations in the exchange rates of dollars and other major currencies. 

None of these

3. As per the news published in various newspapers, Life Insurance policies may become paperless in the near future. This means

LIC will not insure any person here after as it has already reached its peak

LIC will not ask for any documents from a person who wishes to purchase an Insurance policy 

All policy related documents and policy certificates will henceforth be available in electronic form and not in their present physical 

LIC henceforth will not entertain any claim or complaint in written form or on paper. Things should be in electronic condition.

4. In Insurance policies we always find a date which is “Date of Maturity”. What does it mean?

This is the date on which the policy was sold to the customer/person insured. 

This is the date on which the policy holder will have to submit his/her claim 

This is the date on which the contract between the person and insurance company will come to an end. 

The date on which the insurance company makes the final payment to the

5.Which of the following insurance plan is not launched by LIC?

Jeevan Abhaya 

Life Mahalife Gold Plan 

Child Career Plan 

Jeevan Saral