Future Generali India Life Insurance Interview Questions, Process, and Tips

Insurance policies include life, health, auto, home, and business insurance.

• Life insurance provides financial support to beneficiaries upon the policyholder's death.

• Health insurance covers medical expenses and treatments.

• Auto insurance covers damages and injuries in car accidents.

• Home insurance covers damages to the home and personal property.

• Business insurance covers liability and property damage for businesses.

ULIP plans are investment-cum-insurance plans that offer market-linked returns and life cover.

• ULIP stands for Unit Linked Insurance Plan

• Investment and insurance combined

• Premiums are invested in market-linked funds

• Charges include premium allocation, fund management, mortality, surrender, and administration charges

• Example: HDFC Life Click2Invest ULIP

Traditional plans are insurance policies that offer guaranteed returns and are not linked to the stock market.

• Traditional plans are also known as endowment plans

• They offer a fixed sum assured and a guaranteed return on maturity

• Premiums are paid for a fixed term and the policyholder receives the maturity benefit at the end of the term

• Examples of traditional plans include LIC's Jeevan Anand and SBI Life's Smart Money Bac...read more

Insurance is a contract between an individual and an insurance company to protect against financial loss.

• Insurance is a means of protection from financial loss.

• It involves an individual paying a premium to an insurance company in exchange for coverage.

• The insurance company assumes the risk of financial loss in exchange for the premium.

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

• Insurance policies ...read more

Section 80C and 10(10D) are provisions in the Indian Income Tax Act that offer tax benefits on certain investments and insurance policies.

• Section 80C allows individuals to claim deductions on investments in specified financial instruments such as life insurance premiums, employee provident fund, public provident fund, and tax-saving fixed deposits.

• The maximum deduction allowed under section 80C is Rs. 1.5 lakh per fina...read more

SA stands for Systematic Investment Plan, PI stands for Personal Identification and PO stands for Post Office.

• SA - Systematic Investment Plan is a method of investing in mutual funds where a fixed amount is invested at regular intervals.

• PI - Personal Identification is the process of verifying the identity of an individual using personal information such as name, date of birth, and address.

• PO - Post Office is a governme...read more