Question
What is the age criteria for the government-backed Life
insurance scheme for Pradhan Mantri Jeevan Jyoti Bima Yojana?Solution
The Insurance Regulatory and Development Authority of India (IRDAI) has reduced the capital required by insurance companies offering policies under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) by almost 50 per cent. This is to enable insurers to offer more policies under the scheme, and provide financial security to the bottom-of-the-pyramid segment in India. The easing of capital requirements by Irdai will accelerate the penetration of life insurance in India. It will support the life insurers in achieving their target set by the government. Pradhan Mantri Jeevan Jyoti Bima Yojana is a government-backed Life insurance scheme in India. It provides life insurance cover worth Rs 2 lakh to all account holders aged 18-50 years. According to government data, the number of active subscribers enrolled under PMJJBY as of March 31, 2022, is 64 million.
Specific questionnaires in insurance proposal forms are common for:Â
Why do insurers arrange for survey and inspection of the property before acceptance of a risk?Â
The coinsurance is specified by which of the following term?
The Vallarpadam Terminal, which is a container trans-shipment facility, was launched in February 2011. It is a part of which among the following ports?
Consider the following statement:
I. NCB is given to the insured and not to the insured vehicle.
II. On transfer of the vehicle, the ...
A policy that covers the cost of repairing or replacing damaged plant and machinery during construction or erection is:
Which of the below option best describes the process of insurance?Â
In which year, the Actuaries Act was passed by Indian government?
Which of the following is NOT a factor considered by insurers while determining premium rates for motor insurance?
Selling insurance through groups is called?
