Front Line Sales Officer Interview Questions and Answers

IRDAI stands for Insurance Regulatory and Development Authority of India.

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

• It was established in 1999 under the IRDAI Act.

• IRDAI's main functions include issuing licenses to insurance companies, regulating premiums, and protecting policyholders' interests.

• IRDAI also promotes the development of the insurance industry in India.

• IRDAI has the power to impose penalties on insurance companies that violate regulat...read more

There are over 20 MIDCs in Pune, including Chakan, Bhosari, Ranjangaon, and Hinjewadi.

• There are more than 20 MIDCs in Pune

• Some of the popular ones include Chakan, Bhosari, Ranjangaon, and Hinjewadi

• MIDCs are industrial areas developed by the government to promote industrial growth

• They offer various facilities like land, water, electricity, and transportation to industries

• MIDCs in Pune are home to various industries like automobile, IT, engineering, and pharma

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

• Insurance provides financial protection against unexpected events such as accidents, illnesses, and natural disasters.

• The individual pays a premium to the insurance company in exchange for coverage.

• The insurance company pools the premiums of many individuals to pay for the losses of a few.

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

Life insurance is a contract between an insurer and a policyholder, where the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured.

• Life insurance provides financial protection to the family of the insured in case of their untimely death.

• The policyholder pays premiums to the insurer in exchange for the death benefit.

• There are different types of life insurance policies, such as term life, whole life, and universal life.

• Life insuranc...read more

There are various types of insurance policies available, including life, health, auto, home, and travel insurance.

• Life insurance provides financial support to the family of the policyholder in case of their untimely death.

• Health insurance covers medical expenses incurred by the policyholder and their family.

• Auto insurance provides coverage for damages caused to the insured vehicle and third-party liability.

• Home insurance covers damages to the insured property and its contents...read more