HDFC LIFE-
Test Your Insurance Knowledge
Are you confident in your understanding of life insurance? Put your knowledge to the test with this engaging quiz designed to help you learn more about the insurance sector in India.
Whether you're a beginner or looking to refresh your knowledge, this quiz covers a range of important topics:
- Regulatory bodies
- Policy features
- Insurance terminology
- Free-look period details
Q2)A life insurance policy can be made paid-up only if what feature exists
A) Rider benefit
B) Savings element
C) Indexation benefit
D) Nomination facility
Q3) ______is the amount of money you are entitled to receive at the end of specified durations
A) Paid Up Value
b) Surrender Value
C) Survival Benefit
D) Interim Benefit
Q4) How long is the free-look period under a life insurance policy from the date of receipt of policy document
A) 5 days
B) 10 days
C) 15 days
D) 20 days
Q5) The amount an insurance company would pay to the nominee if a policyholder died is known as the.
A) Premium
B) Sum assured
C) Face value
D) Real value
Q6) What is free-look period in a life insurance policy?
A) The timeframe within which you can use the policy for free
B) The timeframe within which you will get your money back
C) The timeframe within which you can return the policy
D) Both (a) and(c)
Q7) The party bearing the risk is known as the ‘insured’ or‘ assurer’ and the Party whose risk is covered is known as the ‘insurer’ or ‘assured.
A)True
B)False
Q8) Unit Linked Insurance Plans: same as endowment plans, a part of premiums go toward the death benefit while the remaining goes toward mutual fund investments.
A)True
B) False
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