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Bajaj Allianz Life Insurance Senior Relationship Manager Interview Questions and Answers

Updated 5 Feb 2024

Q1. Difference between Participating product &non participating product?

Ans.

Participating products offer policyholders a share in the profits of the insurance company, while non-participating products do not.

  • Participating products are also known as with-profit policies.

  • Policyholders receive bonuses in addition to the guaranteed benefits.

  • Non-participating products are also known as non-profit policies.

  • Policyholders receive only the guaranteed benefits.

  • Examples of participating products include endowment policies and whole life policies.

  • Examples of non...read more

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Q2. How much we can earn incentive from 1 month

Ans.

Incentive earnings vary based on performance and targets. It is not possible to give a specific amount for one month.

  • Incentive earnings are based on meeting or exceeding sales targets

  • Performance and productivity also play a role in incentive earnings

  • Incentive structures vary by company and industry

  • It is not possible to give a specific amount for one month without knowing the specific targets and performance metrics

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Q3. Difference between product & service?

Ans.

A product is a tangible item that can be bought or sold, while a service is an intangible action or task performed for a customer.

  • A product is a physical item that can be touched, while a service is an action or task that cannot be touched.

  • Products are usually manufactured or produced, while services are usually performed or provided.

  • Products can be stored and sold later, while services are consumed at the time they are provided.

  • Examples of products include cars, phones, and ...read more

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Q4. Do you have two wheeler

Ans.

Yes, I do have a two wheeler.

  • I own a motorcycle for daily commute.

  • I have a valid driving license for two wheelers.

  • I am comfortable riding in city traffic.

  • Having a two wheeler helps me reach clients faster.

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Q5. What are the types of life insurance

Ans.

There are several types of life insurance policies available to individuals.

  • Term life insurance provides coverage for a specific term or period of time.

  • Whole life insurance offers coverage for the entire lifetime of the insured.

  • Universal life insurance combines a death benefit with a savings component.

  • Variable life insurance allows policyholders to invest in various investment options.

  • Group life insurance is typically offered through employers to provide coverage for a group ...read more

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Q6. Full form of IRDA

Ans.

IRDA stands for Insurance Regulatory and Development Authority.

  • IRDA is a regulatory body that oversees the insurance industry in India.

  • It was established in 1999 under the IRDA Act.

  • IRDA's main functions include issuing licenses to insurance companies, regulating premiums, and protecting policyholders' interests.

  • IRDA also promotes the development of the insurance industry in India.

  • IRDA has the power to impose penalties on insurance companies that violate its regulations.

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Q7. Types of insurance

Ans.

Types of insurance include life, health, auto, home, and business insurance.

  • Life insurance provides financial protection to beneficiaries in case of the insured's death.

  • Health insurance covers medical expenses and treatments.

  • Auto insurance protects against financial loss in case of accidents or theft.

  • Home insurance provides coverage for damages to a home and its contents.

  • Business insurance protects businesses against financial losses due to unexpected events.

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Q8. Brief all about Life Insurance

Ans.

Life insurance provides financial protection to beneficiaries in the event of the insured person's death.

  • Life insurance is a contract between an individual and an insurance company.

  • The insured person pays regular premiums to the insurance company.

  • In the event of the insured person's death, the insurance company pays a death benefit to the beneficiaries.

  • Life insurance can help cover funeral expenses, replace lost income, pay off debts, and provide financial security for loved ...read more

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Interview Process at Bajaj Allianz Life Insurance Senior Relationship Manager

based on 33 interviews
3 Interview rounds
Resume Shortlist Round
HR Round
Personal Interview1 Round
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