[Solved] 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.

Q.	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.
A.	Risk-Avoidance
B.	Risk-Retention
C.	Risk-Transfer
D.	Risk-Reduction and Risk- Control
Answer» C. Risk-Transfer

2.3k

Do you find this helpful?

View all MCQs in

Insurance Exam (LIFE)

Discussion

No comments yet

Related MCQs

Mr. Ramesh is 55 Years' Old, and has 5 Working-Years, Left for Retirement. Currently, His Annual Income is Rupees 5 Lakhs, and He has purchased a Life Assurance Policy of Rupees 15 Lakhs. If He were to die Pre-Maturely, in the Current-Year, it-self, then, How Much Will His Family get from the Life Assurance Company?
Ms. Smita has set-up a Reserve Fund, to be used for the Repairs, in Case, the House is damaged for Some Reason. Identify the Risk-Management Technique, practiced here.
Mr. Poddar has used Insulated Wiring in His House, so as to Reduce the Chances of Damage, Due to Fire. Identify the Risk-Management Technique, practiced here.
Ms. Shaheen refuses to go on a Business-Trip to Iraq, because of Violence in the Destination Country. Identify the Risk-Management Technique, practiced here.
Identify the Life Assurance Plan, where, the Premium is Payable throughout the Life of the Life-Assured.
Name the Policy, that combines Pure Life Assurance with a Savings-Element. If the Life-Assured lives upto Some Specified Time, then He or She receives the Policy's Face-Value.
Name the Public Sector Life Assurance Company, formed as a Result of Nationalisation of Life Assurance in India.
You are Paying a Higher Premium towards Your Life Assurance Policy, as compared to the Others. What Impact, will it have, on the Compensation-Paid, (as compared to the Others), to the Beneficiary, in the Event of Your Death?
As per Insurance Regulatory and Development Authority of India (I.R.D.A.I.) (Protection of Policy- Holders' Interests) Regulations, 2017, What is the Stipulated Period, within which, Claim under a Life Assurance Policy, shall be paid or shall be disputed, provided that, the Company has received All Relevant Papers?
The Premium, Paid for Whole-Life Assurance, is --- than the Premium, Paid for Term Assurance.