Star Health & Allied Insurance Assistant Branch Manager Interview Questions, Process, and Tips for Experienced

IRDA stands for Insurance Regulatory and Development Authority.

• IRDA is a regulatory body in India that oversees the insurance industry.

• It was established in 1999 under the IRDA Act.

• IRDA's main functions include issuing licenses to insurance companies, protecting policyholders' interests, and promoting the growth and development of the insurance sector.

• IRDA also sets guidelines and regulations for insurance products and...read more

Insurance is a contract between an individual or organization and an insurance company, where the insured pays premiums in exchange for financial protection against potential losses or damages.

• Insurance provides financial protection against unforeseen events or risks.

• It involves a contract between the insured and the insurance company.

• The insured pays regular premiums to the insurance company.

• In case of a covered loss ...read more

There are several types of life insurance policies available.

• Term life insurance

• Whole life insurance

• Universal life insurance

• Variable life insurance

• Indexed universal life insurance

• Final expense insurance

• Group life insurance

There are typically three parties involved in insurance: the insurer, the insured, and the beneficiary.

• Insurer: The company or organization that provides the insurance coverage.

• Insured: The individual or entity that purchases the insurance policy.

• Beneficiary: The person or entity designated to receive the benefits or payouts from the insurance policy.

• Example: In car insurance, the insurance company (insurer) provides c...read more