Types of Insurance — Important Questions
ICSE · Class 11 · Commerce
65 important questions from Types of Insurance for ICSE Class 11 Commerce, with answers. Includes multiple choice and multiple correct questions.
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Important Questions from Types of Insurance
Which options are included under General Insurance?
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Fire Insurance, Marine Insurance, Social Insurance
General Insurance includes Fire Insurance, Marine Insurance, Social Insurance, and Miscellaneous Insurance.
Which statement about life insurance business is correct?
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It means contracts of insurance upon human life and related contingencies
Life insurance business includes contracts on human life and contracts where payment is assured on death or other human-life contingencies.
Which features are true of life insurance?
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It is a contract between insurer and insured, The insured pays periodic premium, A fixed sum assured is paid on death or expiry
Life insurance is a contract where periodic premium is paid and a fixed sum assured is paid on death or on expiry of the policy period.
Which pair correctly shows the dual purpose of life insurance?
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Protection and investment
Life insurance serves both protection and investment purposes.
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