Insurance Trivia Quiz Vinod Desai 5 years ago Welcome to your Insurance Trivia Quiz 1. Home insurance can only be purchased by the home owner. This statement is: False True None 2. An average individual in India should most definitely have these types of insurances. Pick the option most relevant. Home Loan Insurance, Whole life insurance, Auto Insurance Pension plan Insurance, Auto Insurance, Home loan Insurance Unit Linked Insurance, Health Insurance, Auto Insurance Term Life Insurance, Auto Insurance, Health Insurance None 3. Which type of life insurance product should one clearly avoid? A product which also provides a return A product which also provides tax-saving A product which provides zero returns None 4. Your employer has provided you with 5 Lakhs of Health Insurance Cover. What does this mean? (Select the option most relevant) The amount will be paid to me, and can be used for any personal need This 5 Lakhs will be paid to me at the end of each year if unused The effective salary would be CTC + 5 Lakhs Towards hospitalization expenses, I can claim an amount of upto 5 Lakhs None 5. An insurance agent receives commissions(a cut) every time he/she sells a product. Directly or indirectly, these commissions are paid by you. Which insurance product below do you suppose has the highest agent commissions? A Whole life insurance policy A Car Insurance Policy A Health insurance policy A Term Insurance Policy None 6. Your life insurance cover should ideally be at least N times your annual income. What's a good range for N? 0.5 to 1 2 to 5 50 to 100 10 to 20 None 7. What is the best definition of an 'Insurance premium'? The additional cost which needs to be paid for premiuming a claim The additional cost of purchasing a premium quality insurance product The cost of having an insurance cover The penalty levied upon missing regular insurance payments None 8. Home loan Insurance is the same Home Insurance. This statement is -- True False 9. When you buy a new health insurance policy, several hospitalizations due to aspects like pre-existing conditions, maternity etc. may not be covered in the first few years. This period is usually called -- Waiting period High-risk period Claim period No-claim period None 10. What is the most effective product for life insurance? A ULIP (A Unit Linked Insurance Policy) Any insurance product which also provides some return on investment A Term insurance which provides good returns on investment An insurance product which also provides tax-benefits A Term insurance which provides zero returns None {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed. The server responded with {{status_text}} (code {{status_code}}). Please contact the developer of this form processor to improve this message. Learn More{{/message}}{{#message}}{{{message}}}{{/message}}{{^message}}It appears your submission was successful. Even though the server responded OK, it is possible the submission was not processed. Please contact the developer of this form processor to improve this message. Learn More{{/message}}Submitting… Time's up
