Interview Questions.

Lic ado Interview Questions and Answers


Lic ado Interview Questions and Answers

Q1. What do you already know about Life Insurance ?

Ans: Life coverage is a settlement that pledges fee of an quantity to the man or woman assured (or his nominee) at the occurring of the occasion insured against.

The agreement is valid for charge of the insured quantity at some stage in:

The date of adulthood, or

Specified dates at periodic intervals, or

Unfortunate death, if it happens in advance.

Q2. What Are The Products Under General Takaful?

Ans: The products under trendy takaful are:

Home takaful

Motor takaful

Personal accident takaful

Q3. What Exactly Is Insurance?

Ans: Insurance is the switch of danger through an character, such as your self, or an organisation, which includes your enterprise, to the coverage organization. You or your company will consequently be called the coverage owner. The insurance company receives price within the form of top class and will compensate you within the event of losses or damages sustained through you.

Q4. What Do You Do While Buying An Insurance Policy?

Ans: When it comes to shopping for a coverage, usually:

 Check the marketplace cost charge of your car. If it's far a brand new car, the insured price may be the acquisition fee.

 Ensure that your vehicle is sufficiently insured as it will have an effect on the amount you may declare.

 Give all cloth statistics about your automobile, consisting of preceding accidents (if any), change to engines, etc. When doubtful, it is high-quality to ask your insurance agency.

Q5. Give Examples Of Insurance?


Medical and health insurance

Retirement annuity

Travel insurance

House owner coverage

Investment linked coverage

Life coverage

non-public twist of fate insurance

Q6. Where is Corporate Office/Head Quarter of LIC located ?

Ans: Mumbai

Q7. What Are The Circumstances In Which You Can Buy A Travel Insurance?

Ans: A journey coverage can be purchased for you or your own family to insure against tour-related injuries, losses or interruptions, which include:

Personal twist of fate

clinical-associated costs

loss of journey or accommodation expenses because of cancellation or curtailment of the adventure

dropping your baggage, assets and cash

losing your passport

non-public liability

delayed bags

journey delays



Q8. List Some Useful Pointers When Buying An Insurance Policy Or Takaful Plan?

Ans: Useful recommendations whilst buying an insurance policy or taking part in a takaful plan:

Understand the policy or plan along with the product features, situations, benefits barriers and exclusions

Ensure that the top rate or contribution payable is affordable

Ensure that the amount of insurance taken is good enough and suits your needs

Ensure that each one cloth statistics are absolutely disclosed

Deal most effective with registered sellers/licensed brokers or immediately with an coverage organisation or takaful operators

Monitor the period of coverage and time for price of premium or contribution

Q9. What Is Bancassurance?

Ans: Banca method bank and assurance is for insurance. The promoting of life guarantee and other coverage services and products through banking establishments is referred to as bancassurance.

Q10. Can you inform a number of the Objectives of LIC ?


Spread and provide lifestyles coverage to the hundreds at an inexpensive price.

Spread Life Insurance extensively and specifically to the rural areas and to the socially and economically backward lessons so as to accomplishing all insurable people inside the united states and imparting them ok economic cowl towards loss of life at an affordable fee.

Maximize mobilization of humans’s financial savings by using making insurance-related savings correctly appealing.

Bear in thoughts, inside the investment of finances, the primary obligation to its policyholders, whose cash it holds in believe, without dropping sight of the interest of the community as an entire; the budget to be deployed to the high-quality gain of the traders in addition to the network as an entire, maintaining in view country wide priorities and responsibilities of attractive go back.

Conduct enterprise with utmost economy and with the total consciousness that the moneys belong to the policyholders.

Act as trustees of the insured public of their individual and collective capacities.

Meet the various life insurance needs of the network that would rise up within the changing social and economic environment.

Involve each person operating inside the Corporation to the nice of their capability in furthering the pursuits of the insured public through offering efficient service in a well mannered way.

Promote amongst all agents and personnel of the Corporation a sense of participation, pleasure and activity satisfaction through discharge of their obligations with determination toward success of Corporate Objective.

Q11. Do you provide an explanation for who can purchase a Policy ?

Ans: Any man or woman who has attained majority and is eligible to enter right into a legitimate settlement can insure himself/herself and people in whom he/she has insurable interest.

Policies also can be taken, subject to positive conditions, on the existence of 1’s partner or kids. While underwriting proposals, sure factors consisting of the policyholder’s nation of health, the proponent’s income and different applicable elements are considered through the Corporation.

Q12. What Are The Benefits Which Are Included In Personal Accident Policy?

Ans: The sorts of insurance generally furnished underneath a PA coverage consist of:

Accidental death.

Permanent disablement.

Temporary general or partial disablement.

Medical fees.

Corrective surgical operation.

Hospitalisation blessings.

Funeral charges.

Q13. What Is A House Holder's Insurance Policy?

Ans: This is a policy which covers your family contents and consists of insurance for deadly injury to you because the insured. This policy does no longer cowl harm to the residence itself.

Q14. What Are The Benefits Which Are Included In Personal Accident Policy?

Ans: The kinds of insurance normally furnished underneath a PA coverage include:

Accidental death.

Permanent disablement.

Temporary overall or partial disablement.

Medical charges.

Corrective surgical procedure.

Hospitalisation benefits.

Funeral charges.

Q15. What Is The Difference Between Insurance And Takaful?

Ans: Both insurance and takaful have comparable basic principles. For instance, the insured, together with yourself, have to have a legitimate monetary interest in the chance you are insuring, meaning you need to suffer a financial loss whilst the insured event happens.

You can also purchase more than one coverage or plan to protect a selected risk but inside the occasion of loss or harm, you may simplest make one claim. The quantity payable will then be contributed by the coverage companies involved. As such, you can not benefit from your widespread coverage policy or takaful plan. If you suffer a loss, you may be compensated consequently and no more than that. You can be paid or indemnified to the position you were in earlier than the loss. However, if you wish to cover your existence, you may buy a couple of coverage.

Q16. Tell Me If You Know What Is Home Insurance?

Ans: Home insurance, or residence owner/householder insurance as it's also regarded, is one of the most important coverage regulations you could purchase on your person lifestyles. Your home is considered one of the biggest economic investment you have got made, and that is why it is so important to defend it.

Q17. What Is A Whole Life Plan In Life Insurance?

Ans: Life-long safety and rates are paid during your life and the money together with any bonuses will be paid when you skip away or go through overall and everlasting disability.

Q18. What Are The Main Products Which Are Included In General Insurance?


Motor coverage

Fire/ House owners/ Householders coverage

Personal twist of fate insurance

Medical and health insurance

Travel coverage

The primary merchandise of fashionable coverage consists of:

Q19. What Are The Risks Which Are Covered In General Insurance?

Ans: Property loss, for instance, stolen vehicle or burnt residence

Liability springing up from harm as a result of your self to a third birthday party

Accidental dying or harm

The risks that are covered via standard insurance are:

Q20. Tell Me What Is A General Insurance?

Ans: General coverage is basically an coverage policy that protects you in opposition to losses and damages other than those protected by way of existence coverage. For greater complete insurance, it's far crucial in an effort to understand approximately the dangers included to ensure that you and your own family are protected from unexpected losses.