Advertisements
Advertisements
Question
Study the following case/situation and express your opinion.
Mr. Sadagopan is a businessman he has two factories in Indore and Bhopal. He lives in Bhopal with his wife and two daughters aged 5 and 8 years.
- Can Mr. Sadagopan take life insurance policy for two children?
- Is child insurance is suitable for a wife of Mr. Sadagopan?
- Which type of insurance should Mr. Sadagopan take for protecting his factories from loss due to fire?
Advertisements
Solution
- Yes, Mr. Sadagopan can take life insurance policy for his children. In particular, he can purchase child insurance policy for them. It is a saving cum investment plan designed to meet children’s future financial needs.
- No, child insurance is not suitable for a wife of Mr. Sadagopan. This is because child insurance policy enables to meet child's future financial needs and his wife is not a child.
- Mr. Sadagopan can take ‘fire insurance policy’ for protecting his factories from loss due to fire.
RELATED QUESTIONS
Explain the types of fire insurance policies.
Correct the underlined word and rewrite the following sentence.
Insurance helps to maximize the risks in the business.
Mr. Amit is a businessman. He has his own factories in Pune and Nashik. He lives in Pune with his wife and 2 daughters aged 5 and 8 years.
- Can Mr. Amit take a life insurance policy for his wife and 2 children?
- Can Mr. Amit take a marine insurance policy for his factories?
- Which type of insurance should Mr. Amit take for protecting his factories from loss due to fire?
Distinguish between Life Insurance and Marine Insurance.
Explain marine insurance policies.
Explain the principles of insurance.
Match the correct pairs.
| Group A | Group B |
| A. Sprinkler policy | 1. provides a regular percentage of the sum assured |
| B. Child insurance | 2. marketing |
| C. Money back policy | 3. demand made by insured to insurer for loss occurred due to mishap |
| D. Claim | 4. profit |
| E. Insurance | 5. proposal |
| 6. protection from financial loss | |
| 7. for voyage | |
| 8. ULIP | |
| 9. suitable for children | |
| 10. fire insurance |
Explain the following term/concept.
Marine Insurance
Distinguish between Life Insurance and Fire Insurance.
Explain the following term/concept:
Insurable Interest
Distinguish between Life Insurance and Marine Insurance.
Distinguish between.
Life Insurance and Fire Insurance
Distinguish between Life Insurance and Fire Insurance.
Distinguish between Life Insurance and Fire Insurance.
Distinguish between Life Insurance and Fire Insurance
Distinguish between Life Insurance and Fire Insurance.
