10 minutes INSURANCE QUIZ #1 by kooagency
Test yourself by going through these 15 insurance questions to determine if you know what you are buying, going to buy or have bought. Just answer True or False and then check your answers by clicking the 'ANSWERS' button at the bottom. Try it out: see whether you are an Insurance Genius or an Insurance Know-Nuts!
HAVE A FUN TIME!
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INSURANCE QUIZ #1 |
| Q1. The MedicaGen or MedicaLife Health/Medical insurance premium is eligible for income tax relief. | True False |
| Q2. Education policy is a type of life policy. | True False |
| Q3. Investment-linked life insurance usually provides higher returns, but has higher risk, as compared to a conventional life policy. | True False |
| Q4. MRTA (Mortgage Reducing Term Assurance) or MRTI (Mortgage Reducing Term Insurance) is not insuring your property on fire & burglary, but instead insuring you on Death and Total Permanent Disability, usually for a term according to your loan period. | True False |
| Q5. In a life policy, the life insurance company will pay if the insured commit suicide after one year from the policy date or date of reinstatement whichever is later. | True False |
| Q6. In a life policy, a grace period of thirty-one (31) days from its due date will be allowed for payment of each premium after the first, during which period the policy will remain in force. | True False |
| Q7. In a child's life policy, insurance company is only liable for 60% of the sum insured (plus accumulated dividends, if any) if death occurs when the insured is at age 2 as stated in the Juvenile Lien clause. | True False |
| Q8. A life policy shall be incontestable, except for non-payment of premiums, after it has been in force during the lifetime of the Insured for two (2) years from the issue date. | True False |
| Q9. When we talk about the MedicaGen or MedicaLife Health/Medical insurance, we are actually talking about Hospitalisation & Surgical coverage due to illness or accident. | True False |
| Q10. The MedicaGen or MedicaLife Health/Medical insurance is considered to be Cashless & Hassle-Free when one is admitted or being discharged from any participating hospital. | True False |
| Q11. Personal Accident insurance that is available now (such as the PSv2 Plan from Zurich) include coverage of accidents consequent upon intoxication of alcohol and even pays for Traditional Treatment sought due to an accident. | True False |
| Q12. A Motor Insurance policy comes with a Compulsory Excess clause. | True False |
| Q13. The NCD (No Claims Discount) entitlement for a private owned car increases from 0%, 25%, 30%, 38.33%, 45% to 55% after each year of coverage provided there is no claim made or pending during the preceding year. | True False |
| Q14. You cannot transfer your NCD to another person when you sell your car. | True False |
| Q15. A 6% Service Tax is charged for all vehicles registered under Company Name when purchasing a Motor Insurance. | True False |
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