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Category: IC23 APPLICATIONS OF LIFE INSURANCE – 14

IC23 APPLICATIONS OF LIFE INSURANCE – 14

Que. 1 : Q1) Advances and withdrawals can be made out of the General Provident Fund (GPF) by an employee for which of the below specified purposes?

   1.  a) Housing, medical treatment expenses, educational expenses,marriage expenses etc.

   2.  b) Housing, medical treatment expenses, vacation expenses, buying a vehicle etc.

   3.  c) Medical treatment expenses, vacation expenses, giving loans to needy persons, marriage expenses

   4.  d) Housing, existing house refurbishment, buying household items, house renovation etc.

Que. 2 : Q2) In Third way annuities, the annuitant is allowed to take income from the annuity till the age of _________.

   1.  a) 55 years

   2.  b) 65 years

   3.  c) 75 years

   4.  d) 85 years

Que. 3 : Q3) Superannuation pension if he has rendered eligible service of _______ or more and retires on attaining the age of _______.

   1.  a) 5 years , 50 years

   2.  b) 10 years, 58 years

   3.  c) 15 years, 65 years

   4.  d) 20 years, 72 years

Que. 4 : Q4) Under the Indian Evidence Act a person who has disappeared is presumed to be dead only if he has not been heard of for ____________ by those who would naturally have heard of him if he had been alive.

   1.  a) 2 years

   2.  b) 5 years

   3.  c) 7 years

   4.  d) 10 years

Que. 5 : Q5) In Medical Expenses Insurance plan, some variants pay fixed amounts called ________ for every day of hospitalisation.

   1.  a) Premium cash

   2.  b) Insurance cash

   3.  c) Illness cash

   4.  d) Hospital cash