Insurance Quiz-1

One of the essential ingredients of Insurance Contract is that the insured must have ___________ interest in the subject matter of contract.

In Life Insurance, everyone is considered to have an interest in his own life and that of his _______

____________ policy covers loss by fire caused to property belonging to the same person but located at different places under a single sum and for one premium.

In _____ policy a fixed amount is paid as compensation irrespective of the loss.

A marine insurance policy that is a combination of voyage & time policies & covers all risks during the particular voyage for a specified period of time is called _______ policy.

The marine insurance will be valid if the person is having insurable interest at the time of loss. The insurable interest will depend upon the nature of ________ contract.

Claims under Motor Vehicle Insurance Policy are inadmissible in case of vehicle used for ___________ purposes.

When a __________finds that a Vehicle is either beyond repairs or the repairs are not in economic proposition he negotiates with the insured to assess the loss on Total Loss Basis.

Senior Citizen Mediclaim policy is available to a resident in India between the age of 60 & 80 years. If renewed without break the cover can be continued upto the age of _____________.

Mediclaim Insurance was primarily introduced to cover _____________ charges.