Insurance Awareness - GK

1._________is a sum of money paid by an employer to an employee for services rendered in the company

Pension Gratuity Salary Premium

2.What is lapse in insurance ?

Termination of an insurance policy due to the insured’s failure to pay the premium. It is a policy that does not pay benefits to the beneficiary if the cause of death is an accident Both 1 and 2 It is a policy that pays benefits to the beneficiary if the cause of death is an accident

3.Mortality Charge is the amount charged _____________ by the insurer

Every month Every year Every day Every 6 months

4.__________________ is an insurance product typically sold or issued by life insurance companies.

Life term policy Life Insurance Life Annuity Term Insurance

5.What is TPA ?

Third Party Administrators Third Power Administrators The Party Accelerators The Power Administrators