New Cracking SEBI General in 60 Days - Possible or Not?
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Question

Which type of insurance policy includes that the insurer agrees to pay a fixed sum of money irrespective of the amount of loss to the insured?

A Comprehensive Policy Correct Answer Incorrect Answer
B Average Policy Correct Answer Incorrect Answer
C Consequential Loss Policy Correct Answer Incorrect Answer
D Valued Policy Correct Answer Incorrect Answer
E Floating Fire Policy Correct Answer Incorrect Answer

Solution

This type of feature will benefit the insured because he /she can claim the good amount as compared to the loss occurred.

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