Question
Which Insurance is a compulsory insurance plan
administered by a government agency with the primary emphasis on social adequacy?Solution
Social insurance is any government-sponsored program with the following four characteristics: • The benefits, eligibility requirements and other aspects of the program are defined by statute. • Explicit provision is made to account for the income and expenses (often through a trust fund) • It is funded by taxes or premiums paid by (or on behalf of) participants (but additional sources of funding may be provided as well. • The program serves a defined population, and participation is either compulsory or so heavily subsidized that most eligible individuals choose to participate.
In India, insurance has a deep-rooted history. It finds mention in the writings of?
The primary purpose of a motor insurance policy is to:
The process of amending a policy during its term is known as:
What is the difference between a "condition" and a "warranty" in an insurance policy?
when a company has declared that there will be a dividend in the future but has not yet paid it out, it is known as?
A motor insurance policy can be cancelled by:
When we look at claims’ trends, we look at a number of factors. Some of these are listed below. Which factor is not to be considered from this list?
Which term referring to property coverage for the perils of burglary, theft and robbery?
The Motor Vehicles Act, 1988 requires what document as proof of insurance?
The first motor vehicle insurance policy was issued in the UK in:
