10+ Bajaj Allianz Life Insurance Interview Questions and Answers for Freshers

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

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

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.

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.

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

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

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

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.

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

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.