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Test Your Traditional Plan Knowledge

Question 1 of 3

Q1 . Which age proof cannot be accepted as STD age proof?

Q2 . Which age proof cannot be accepted as STD age proof?

Q3 . Which of the following product requires Age proof as a mandatory document

Q4 . What is the abbreviation for HUF?

Q5 . Where premium amount is more than Rs. 1, 00,000 per annum, which of the following documents will you take from the customer?

Q6 . What is the abbreviation for WOP?

Q7 . In case of monthly mode, what would be the initial premium amount to be collected from the customer?

Q8 . Driving licence can be considered as Non Std age proof for

Q9 . Mr. Ravi Kumar aged 30 years has recently got married. He is the owner of a chemist shop. He is conservative in his investment approach and does not find any benefit in insurance. So he has not purchased any insurance plan so far. How will you explain the importance of having a life insurance cover and also pitch the IndiaFirst Maha Jeevan Plan to him? a) Life Insurance is important for the financial protection of our dependent family members. In case of an untimely death of the breadwinner who will run the house and look after the family’s income needs? b) If you have not invested in any insurance plan so far and also do not want to risk your investments, then IndiaFirst Maha Jeevan Plan is the right product for you. c) It is a secured investment option, in which you have to make systematic premium contributions for the plan term as chosen by you. d) A lump sum amount will be paid to your nominee in case of death of life assured during the plan term. If not on maturity you will receive the lump sum amount of sum assured plus all accrued bonuses till that time. Thus you are protecting your family and also contributing for a specific lump sum amount in future.

Q10 . What does Tier 2 medical include?

Q11 . IndiaFirst Simple Benefit Plan has which of the following features? a) Easy and flexible saving options b) Life cover to protect your family c) Guaranteed payout at the end of the term d) Additional returns in the form of annual bonuses

Q12 . Can a minor be a life assured under the IndiaFirst Simple Benefit Plan? a) Yes. A minor can be a life assured and the minimum age at entry should be 5 years. b) No. A minor cannot be a life assured as the minimum age at entry is 18 years.

Q13 . In case the client has agricultural income and does not have a PAN Card (non-mandatory), what stand will underwriting take for issuance of the policy? The premium in this case is Rs 1, 00,000/-

Q14 . What is the minimum amount payable to the customer in case he / she surrender IndiaFirst Maha Jeevan Plan on the last plan year?

Q15 . What is the minimum and maximum age at entry under IndiaFirst Maha Jeevan Plan ?

Q16 . If a client does not have any evidence of age, what suggestion you would give to the BDM?

Q17 . If a customer stops paying renewal premiums before the completion of 3 plan years under IndiaFirst Maha Jeevan Plan, then what are the effects on the plan benefits? a) Plan does not acquire any value. b) Plan lapses and no benefits are payable during the period until the plan is revived. c) A two year revival period is offered during which a plan can be revived. d) No benefits will be payable during this period.

Q18 . Which questionnaire can be used to get the detailed information of the client employed in Indian Air Lines?

Q19 . If a customer has never undergone any schooling and cannot read or write. He is considered

Q20 . What are the risks that a human life is exposed to, that are covered under life insurance? a) Risk of illness b) Risk of premature death c) Risk of accidents d) Risk of unemployment e) Risk of living too long.

Q21 . How much time does it take for Application tracker to update the status of application?

Q22 . Mr. Mahesh Raj, is 48 years old and wants to apply for IndiaFirst Simple Benefit Plan. He is looking for a 25 year plan term. How much plan term can be offered to him keeping in mind the maximum age at the end of the plan term?

Q23 . Which of the below statements are incorrect regarding the IndiaFirst Simple Benefit Plan? a) There is no maturity or survival benefit payable under this plan. b) This is a participating, non linked endowment plan. c) Loans are available upto 90% of the Surrender Value. d) This plan offers settlement option for a period of 5 years on maturity

Q24 . What happens in case the life assured commits suicide under IndiaFirst Maha Jeevan Plan? a) We will pay 80% of the total premium paid to the nominee/ appointee/ legal heir, if the life assured commits suicide within 12 months from the date of risk commencement date. b) We will pay higher of surrender value or 80% of the total premium paid to the nominee/ appointee/ legal heir, if the life assured commits suicide within 12 months from the date of revival/ re-instatement. c) We will pay 90% of the total premium paid to the nominee/ appointee/ legal heir, if the life assured commits suicide within 12 months from the date of risk commencement date / revival / reinstatement d) We will pay 70% of the total premium paid to the nominee/ appointee/ legal heir, if the life assured commits suicide within 12 months from the date of risk commencement date / revival / reinstatement

Q25 . What is the minimum and maximum monthly premium contribution under IndiaFirst Simple Benefit Plan, which will makes the plan attractive for small investors? a) Minimum premium of Rs. 170 /- per month and Maximum premium of Rs 2514/- per month b) Minimum premium of Rs. 172/- per month and Maximum premium of Rs 2600/- per month c) Minimum premium of Rs. 174/- per month and Maximum premium of Rs 2814/- per month d) Minimum premium of Rs. 176/- per month and Maximum premium of Rs 3014/- per month

Q26 . Mr. Ravi had purchased the IndiaFirst Simple Benefit Plan last year with an annual mode of premium payment. This year his second renewal premium was due. However, due to his hectic schedule he forgot to pay his premium and his plan went into lapsation. What are the options provided by IndiaFirst under the IndiaFirst Simple Benefit Plan to revive the plan? a) The plan can be revived simply by paying the pending premium amount from the due date of the first unpaid premium. b) The plan can be revived simply by paying the pending premium amount along with interest from the due date of the first unpaid premium. c) The plan can be revived within 3 years from the due date of the first unpaid premium without any need of underwriting. d) The plan can be revived within 2 years from the due date of the first unpaid premium subject to satisfactory medical and underwriting guidelines.

Q27 . Where does Underwriting department function?

Q28 . What does follow up code KY2 specify

Q29 . What is the maximum age at entry for Term Plan?

Q30 . Mr. Anuj Saxena, is 35 years old and a senior executive, working in an MNC. He is married and has a five year old son. He wants to invest Rs 1,00,000 on a regular basis for 15 years in a traditional investment plan to save for his son’s studies. He wants to know which plan will suit his needs and how much return he can expect considering annual bonus of 4% per annum. How will you pitch him the plan? a) With IndiaFirst Maha Jeevan Plan, you can plan your son’s education needs, as it offers assured amounts plus additional returns in the form of bonuses. The benefits from the plan are tax free under Sec 10(10D) of the income tax act, unlike some other conventional methods. b) With IndiaFirst Maha Jeevan Plan, you can choose the life assured as per your convenience. The premium will be calculated based on your Sum Assured. For an example, you can enjoy a life assured of Rs 17,00,000 for a premium of Rs 1,01,700 inclusive of service tax. c) With IndiaFirst Maha Jeevan Plan, you may receive a lump sum amount on maturity equal to Rs 27,20,000 considering 4% bonus is declared every year d) The plan also offers easy access to liquidity after 5 plan years through partial withdrawal.

Q31 . In case, the client opts for a sum assured of Rs 50, 00,000, which calls for mandatory medicals and he has a mentioned his occupation as Cash receiver at Bank of Baroda. What will be the Underwriting action on this case in terms of staff discount?

Q32 . Which of the following factors are not allowed as per the Underwriting features of Term Plan?

Q33 . What is the maximum Sum Assured offered under IndiaFirst Simple Benefit Plan? a) Rs. 50,00,000/- b) Rs. 1,00,00,000/- c) Rs. 5,00,00,000 /- d) Rs. 20,00,00,000 /-.

Q34 . What do you mean by interim bonus under IndiaFirst Maha Jeevan Plan?