New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    What is the purpose of a deductible in an insurance

    policy?
    A To reduce the amount of coverage provided by the policy Correct Answer Incorrect Answer
    B To increase the premium paid by the policyholder Correct Answer Incorrect Answer
    C To reduce the amount paid by the insurance company in the event of a claim Correct Answer Incorrect Answer
    D To make the claims process more complicated for the policyholder Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    The correct answer is C

    Practice Next