Bajaj Allianz Life Insurance
10+ Equitas Small Finance Bank Interview Questions and Answers
Q1. Difference between Participating product &non participating product?
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
Q2. Difference between product & service?
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
Q3. Do you have two wheeler
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.
Q4. Full form of IRDA
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.
Q5. What is death benefit and 10(10)D and 18C?
Death benefit is a sum of money paid out to the beneficiary of a life insurance policy upon the death of the insured. 10(10)D and 18C are sections of the Income Tax Act related to taxation of life insurance policies.
Death benefit is the amount paid out to the beneficiary of a life insurance policy when the insured person passes away.
10(10)D is a section of the Income Tax Act that deals with the tax treatment of death benefits received from life insurance policies.
18C is anoth...read more
Q6. How to sale the insurance to customer..?
To sell insurance to customers, it is important to understand their needs, build trust, explain the benefits of the policy, and provide excellent customer service.
Understand the customer's needs and tailor the insurance policy to meet those needs.
Build trust by being transparent about the policy details and answering any questions or concerns the customer may have.
Explain the benefits of the insurance policy, such as financial protection in case of emergencies or peace of min...read more
Q7. What do you know about the insurance
Insurance is a financial product that provides protection against financial losses.
Insurance is a contract between an individual or organization and an insurance company, where the insurer agrees to provide financial protection in case of specified events such as accidents, illnesses, or property damage.
Types of insurance include health insurance, life insurance, auto insurance, and property insurance.
Insurance premiums are the payments made by the insured to the insurance co...read more
Q8. How to deal with customer..?
Build rapport, listen actively, address concerns, provide solutions, follow up.
Establish rapport by being friendly and attentive.
Listen actively to understand their needs and concerns.
Address any issues or concerns they may have.
Provide solutions or options to meet their financial needs.
Follow up to ensure customer satisfaction and maintain a positive relationship.
Q9. Tell me about banking and banassurance
Banking involves financial services like deposits, loans, and investments, while bancassurance is the selling of insurance products through banks.
Banking includes services like savings accounts, loans, and investments
Bancassurance is the distribution of insurance products through banks
Bancassurance allows banks to offer insurance products to their customers, increasing revenue and customer loyalty
Q10. 3 lakh 60 thousands, experience 3 yrs
The question seems to be about the salary and experience of a candidate in the banking and finance industry.
The candidate has a salary of 3 lakh 60 thousand.
The candidate has 3 years of experience.
The question may be asking for an interpretation or analysis of the given information.
Q11. 3. What is IRDA
IRDA stands for Insurance Regulatory and Development Authority of India.
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.
It also promotes the development of the insurance industry in India.
IRDA has the power to impose penalties on insurance companies that violate its regulations...read more
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