Mr. Manish asks His Insurance-Advisor, the Primary Purpose of Insurance. Help Mr. Manish, Identify the Primary Purpose of Insurance, from the Following Options.

Related MCQs

• Look at the Following Scenarios, and Select the Ones, that need to be flagged under an Anti-Money- Laundering (A.M.L.) Programme. I: A Customer cancels a Transaction, and requests to do a Second Transaction for Less Amount, in order to avoid providing His or Her Identity-Proof. II: A Customer requests an Un-Usually High Dollar- Transaction, and cannot explain the Reason for the Transaction or the Source of the Cash. III: A Customer appears Nervous and asks Un-Usual Questions about Your Record-Keeping. IV: A Customer tries to bribe a Teller.
• Mr. Ramesh fudges His Company Balance-Sheet, Before Selling-Out the Company. Categorise His Action into One of the Following Options.
• Identify a Non-Physical Asset, from the List of Following Options.
• Examine the Following Options, and Identify the One, which is Not a Credit-Management Decision. Choose the Most Appropriate Option.
• From the Following Options, Identify a Non-Traditional Life Assurance Product.
• From the Following Options, Identify a Traditional Life Assurance Product.
• Categorise Mortgage-Redemption-Insurance, Under One of the Following Options.
• Mr. Suresh has purchased a Life Assurance Policy, so that, His Family-Members do not have to depend on Any-One, in Case of His Un-Timely Death. Identify the Risk-Management Technique, practiced here.
• Mr. Brijesh purchased a 20-Years' Unit-Linked Insurance-Plan (U.L.I.P.), from ABC Insurance Company. If Mr. Brijesh Dies, Before the Maturity of the Policy, then Insurance Company will have to pay --.
• Mr. Kapil had taken Insurance-Cover of Rupees 50 Lakhs, for a Period of 25 Years. Mr. Kapil dies in a Car- Accident, during the Policy-Term, and the Company pays the Sum-Assured Plus Accumulated Bonuses, to His Nominee. Which Type of Claim, was paid by the Insurance Company?