Tata AIG Rm Executive Interview Questions and Answers

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