Question
What is the purpose of "excess" in an insurance policy?
Solution
An excess (also known as a deductible) is the amount the insured is responsible for paying before the insurance company starts to pay for a claim. This helps reduce the premium cost.
Which of the following is NOT a key step in the underwriting process?
How much Foreign direct investment (FDI) is allowed in Insurance Repository?
The establishment of Agriculture Insurance Company of India Limited (AIC) was announced in which General Budget speech?
A section of the risk-based capital formula calculating requirements for reserves and premiums is termed as?
There is unlimited coverage to Third parties injury and Third party property damage is covered up to a sum of Rs ______.
Policy that can be cancelled or have the premium s raised by the insurer on a specific anniversary date, subject to certain reasons written into the pol...
Life Insurance Companies cannot reject insurance claim after how many years ?
A single policy covering a group of individuals, usually employees of the same company or members of the same association and their dependents is called?
Which of the below cannot be an intermediary?
What is NOT an element of an insurance contract?
