What do you know about life insurance?

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Accepted Answer

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

Life insurance provides financial protection for loved ones in the event of the insured's death.
There are different types of life insurance policies such as term life, whole life, and universal life.
Premiums are paid by the policyholder in exchange for coverage.
The death benefit is the amount paid out to beneficiaries when the insured passes away.
Life insurance can also have cash value that can be accessed during the insured's lifetime.
Life insurance is often used to cover funeral expenses, replace lost income, or pay off debts.
Life insurance can be purchased through insurance companies or employers as part of a benefits package.

Top HR questions asked in Kotak Mahindara Life Insurance Associate Recruitment and Development Manager