30 Questions
What is the minimum sum assured for PLI policies according to the text?
Rs. 20,000
Who is eligible to procure PLI/RPLI business according to the text?
Gramin Dak Sevak (GDS)
What happens if the sales force does not procure the minimum number of PLI Policies in a Financial Year?
They face termination of their license
What is the maximum sum assured for PLI policies for individuals aged 40 or below at entry, with a sum assured greater than 20 Lakhs?
10 times Annual income
Who is not eligible to procure direct business for PLI policies according to the text?
PLI Development Office
Is there an upper age limit for Retired Central/State Govt. employees/Gramin Dak Sevak (GDS) to apply for PLI policies?
No, there is no upper age limit
Who is eligible to take a policy under Postal Life Insurance?
Resident Doctors employed on contract in any hospital
What is the minimum age at entry for the Anticipated Endowment policy?
19 years
Which employees are eligible for policy under Postal Life Insurance?
Employees of recognized educational institutions affiliated to Boards
Which policy allows for loan and surrender facilities?
Anticipated Endowment (SUMANGAL)
Which professionals are NOT eligible for policy under Postal Life Insurance?
Engineers pursuing Master's degree after passing GATE
What is the bonus rate per thousand for the Anticipated Endowment policy?
Rs.52
Who among the following is eligible for Postal Life Insurance?
Doctors working in private hospitals
Under what conditions will the nominee receive the full sum assured with accrued bonus in the event of death?
In case of unexpected death of the insurant
Which group of professionals are eligible for taking a policy under Postal Life Insurance?
Bankers working in Foreign Banks
For which policy is medical examination compulsory if the age is 40 years or less?
Anticipated Endowment (SUMANGAL)
Who is eligible for Postal Life Insurance among the following?
Engineers pursuing Master’s degree after passing GATE entrance test
What happens to eligibility for bonus if a policy is surrendered or assigned for loan before 5 years?
Eligibility is lost
What does 'Free Look Period' refer to in insurance policies?
A period where insurants can cancel their policy within 15 days of receiving the policy bond
What is the Grace Period in insurance policies?
A specified time period after premium payment is due for an insurance policy
When does Early Death Claim apply in insurance policies?
When there is a death within 3 years of policy acceptance or revival
What is required if there is no nomination in a death claim up to Rs 3,00,000?
Production of succession certificate may be waived by the Head of Circle
What action can the insurant take during the Grace Period?
Pay the premium without any penalty
What happens if the last day of the Grace Period is a holiday or Sunday?
The Grace Period is extended up to the previous working day
What is the condition for reinstating a policy less than 3 years old?
Premium can be accepted within 6 months with interest @12%
When can premium be accepted for a policy more than 3 years old for reinstatement?
Within 12 months from the date first premium was due with interest @12%
What does revival of an insurance policy mean?
Activating a lapsed policy
What is commutation in the context of insurance?
Altering the amount of premium in a contract
What is the condition for receiving revival amount in convenient installments?
Maximum 12 installments allowed for revival amount, with life risk covered from payment of 1st installment
What determines the paid-up value of an insurance policy?
The total premiums paid compared to the maximum period for which premiums were originally payable
Test your knowledge on the employees of Credit Co-operative Societies, deemed Universities, and other educational institutes funded or accredited by various government institutions and bodies.
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