Bajaj Allianz Life Insurance Relationship Associate Interview Questions and Answers

Life insurance is a financial product that provides a lump sum payment to beneficiaries upon the insured person's death.

• Provides financial protection for loved ones in case of the insured's death

• Can help cover funeral expenses, pay off debts, or replace lost income

• Premiums are paid regularly to maintain coverage

• Different types include term life, whole life, and universal life insurance

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