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Money Back Policy Interview Questions & Answers - Learning Mode
COOLINTERVIEW.COM INSURANCE INTERVIEW QUESTIONS MONEY BACK POLICY INTERVIEW QUESTIONS QUESTIONS & ANSWERS - LEARNING MODE

Money Back Policy Interview Questions & Answers - Learning Mode

A money back policy is a variant of the endowment plan. It gives periodic payments over the policy term. To that end, a portion of the sum assured is paid out at regular intervals. If the policy holder survives the term, he gets the balance sum assured. In case of death over the policy term, the beneficiary gets the full sum assured.

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Money Back Policy Interview Questions & Answers - Learning Mode
Try Money Back Policy Interview Questions & Answers - Exam Mode
Question: What is cash value of an insurance plan?

Answer: Every life insurance policy when in force for a number of years acquires a cash value. Cash value is derived when your premium payments are more than the cost of insurance. The excess money goes into a cash value account and draws interest. If you decide to surrender your life insurance policy, the life insurance company will pay you the cash value, also known as surrender value. Source: CoolInterview.com
Question: Can you tell me details about ICICI Pru immediate annuity plan? Is the plan good?

Answer: Since every individual is unique and has unique retirement goals one must pick the right plan that covers for sufficient funds for all financial requirements and emergencies. ICICI Prudential Immediate Annuity plan as the name suggests offers the policyholder a benefit of lifetime income with an annuity starting immediately after paying the premium. So if you are looking at any pension plans which offer immediate annuity, you can surely take a close look at ICICI Pru immediate annuity plan. At t Source: CoolInterview.com
Question: What are the conditions before one can partially withdraw money from an insurance plan?

Answer: Every insurance company has set a minimum limit for partial withdrawals varying from policy to policy. Usually the term is that of 5 years so you have to be a policyholder for minimum period of 5 years before you are eligible for partial withdrawal. Also all due premiums must be paid in time for the policy to be considered to partial withdrawal facility. Before you opt for a partial withdrawal know that the sum assured as per the insurance policy decreases for each partial withdrawal made for a Source: CoolInterview.com

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Latest 20 Questions
Payment of time- barred debt is: (a) Valid (b) Void (c) Illegal (d) Voidable
Consideration is defined in the Indian Contract Act,1872 in: (a) Section 2(f) (b) Section 2(e) (c) Section 2(g) (d) Section 2(d)
Which of the following is not an exception to the rule, "No consideration, No contract": (a) Natural love and affection (b) Compensation for involuntary services (c) Completed gift (d) Agency
Consideration must move at the desire of: (a) The promisor (b) The promisee (c) The promisor or any other party (d) Both the promisor and the promisee
An offer which is open for acceptance over a period of time is: (a) Cross Offer (b) Counter Offer (c) Standing Offer (d) Implied Offer
Specific offer can be communicated to__________ (a) All the parties of contract (b) General public in universe (c) Specific person (d) None of the above
_________ amounts to rejection of the original offer. (a) Cross offer (b) Special offer (c) Standing offer (d) Counter offer
A advertises to sell his old car by advertising in a newspaper. This offer is caleed: (a) General Offer (b) Special Offer (c) Continuing Offer (d) None of the above
In case a counter offer is made, the original offer stands: (a) Rejected (b) Accepted automatically (c) Accepted subject to certain modifications and variations (d) None of the above
In case of unenforceable contract having some technical defect, parties (a) Can sue upon it (b) Cannot sue upon it (c) Should consider it to be illegal (d) None of the above
If entire specified goods is perished before entering into contract of sale, the contract is (a) Valid (b) Void (c) Voidable (d) Cancelled
______________ contracts are also caled contracts with executed consideration. (a) Unilateral (b) Completed (c) Bilateral (d) Executory
A offers B to supply books @ Rs 100 each but B accepts the same with condition of 10% discount. This is a case of (a) Counter Offer (b) Cross Offer (c) Specific Offer (d) General Offer
_____________ is a game of chance. (a) Conditional Contract (b) Contingent Contract (c) Wagering Contract (d) Quasi Contract
There is no binding contract in case of _______ as one's offer cannot be constructed as acceptance (a) Cross Offer (b) Standing Offer (c) Counter Offer (d) Special Offer
An offer is made with an intention to have negotiation from other party. This type of offer is: (a) Invitation to offer (b) Valid offer (c) Voidable (d) None of the above
When an offer is made to the world at large, it is ____________ offer. (a) Counter (b) Special (c) General (d) None of the above
Implied contract even if not in writing or express words is perfectly _______________ if all the conditions are satisfied:- (a) Void (b) Voidable (c) Valid (d) Illegal
A specific offer can be accepted by ___________. (a) Any person (b) Any friend to offeror (c) The person to whom it is made (d) Any friend of offeree
An agreement toput a fire on a person's car is a ______: (a) Legal (b) Voidable (c) Valid (d) Illegal
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