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?

Related MCQs

• 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?
• 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.
• Ms. Prajakta earns Rupees 2,40,000/-, Per Annum. She spends Rupees 1 Lakh, Per Annum, on Her-Self. The Market Rate-of-Interest is 7%. Calculate Ms. Prajakta's Life Assurance Amount, through the Human Life Value (H.L.V.) Method.
• Mr. Sudhir had taken an Insurance-Cover of Rupees 25 Lakhs, from ABC Insurance Company, 20 Years Back. On Maturity, the Company pays the Sum-Assured Plus Accumulated Bonuses, Less the Dues (Outstanding Premium(s)), as the Maturity-Claim, to Mr. Sudhir. Which Type of Plan, was taken, by Mr. Sudhir?
• Mr. Ramesh is Married, and wants to buy a Life Assurance Cover on His Friend's Life. Find Out, if He will be Able to do so.
• If a Policy-Holder wishes to seek Compensation, up to Rupees 20 Lakhs, from Insurance Company, against a Grievance, then, Where Can, He or She lodge the Complaint? Choose the Most Appropriate Option.
• Mr. Vishal had taken an Insurance of Rupees 50 Lakhs, for a Period of 25 Years. On Maturity, the Insurer pays the Maturity-Claim Minus the Survival-Benefits, Received During the Term of the Policy. Which Type of Plan, was taken, by Mr. Vishal?
• Mr. Vimal is a 32-Years' Old, Healthy, Non-Smoker, Teetotaller Individual; Who applies for Life Assurance from ABC Limited Insurance Company. Which One of the Following Statements, will Hold True, with Regard to Risk-Acceptance by the Insurance Company?
• Mr. Mahesh is a Drug-Dealer. He doesn't have a Regular Job. He made Rupees 10 Lakhs, from Sale of Drugs. He can't buy a House or Car, etc., with the Money. If He does, the Government will get Suspicious, and start investigating the Drug-Dealer. So, the Drug-Dealer opens a Bar or Tavern, and pads the Books to show Huge Profits on the Tavern, and pays His Taxes on the Money. This is an Example of --.
• 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 --.