ICICI Prudential Life Insurance Associate Financial Service Manager Interview Questions, Process, and Tips

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

• Insurance provides financial protection against risks such as accidents, illness, and natural disasters.

• Premiums are paid to the insurance company in exchange for coverage.

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

• Insurance policies have terms and conditions that mus...read more

The insurance sector is highly competitive with many players vying for market share.

• The market position of an insurance company depends on factors such as customer satisfaction, brand recognition, and financial stability.

• Some of the top players in the insurance sector include State Farm, Allstate, and Geico.

• Market share can also be influenced by the types of insurance products offered and the target market.

• In recent ye...read more

Mutual funds are investment vehicles that pool money from multiple investors to invest in a diversified portfolio of stocks, bonds, or other securities.

• Mutual funds are managed by professional fund managers

• They offer diversification and liquidity to investors

• Types of mutual funds include equity funds, debt funds, balanced funds, and index funds

• Equity funds invest in stocks, debt funds in fixed income securities, balanc...read more

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

• 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 resulting from car accidents.

• Home insurance covers damages and losses to a home and its contents.

• Liability insurance covers legal fees and damages resulting from lawsu

ULIP is a life insurance product that combines investment and insurance, while a term plan is a pure life insurance product.

• ULIP provides both investment and insurance benefits, while term plan only provides insurance benefits

• ULIP has a higher premium as compared to term plan

• ULIP offers flexibility in investment options, while term plan does not

• Term plan provides a higher sum assured as compared to ULIP

• ULIP has a lock-

Mutual funds are investment vehicles that pool money from multiple investors to invest in stocks, bonds, and other securities. Life insurance provides financial protection to beneficiaries in the event of the policyholder's death.

• Mutual funds are primarily focused on generating returns on investment, while life insurance is focused on providing financial protection to beneficiaries.

• Mutual funds are managed by professio...read more