INSURANCE PRODUCTS – (ADL-110) - Amity Solved Assignments

INSURANCE PRODUCTS – (ADL-110)

ASSIGNMENT ‘A’

Q1. Discuss the scope of Standard Mediclaim Policy.

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Q2. Discuss the scope of Standard Fire & Special Perils Policy.

Q3. Briefly discuss section-wise scope of Householder’s Insurance Policy.

Q4. Discuss the scope of Money Bank Life Assurance Policy.

Q5. Write Short Notes on:

(a) Term Insurance Policy In Life.

(b) Permanent Total Disablement benefit in P.A. Policy.

(c) Money Insurance.

(d) Plate Glass Insurance.

ASSIGNMENT – ‘B’

Q6. Discuss the scope of Contractor’s All Risk Policy.

Q7. Enumerate coverages provided under Motor Insurance

Package Policy.

Q8. Write Short Notes on the following :

(a) Critical Illness Policy.

(a) Burglary Insurance.

(b) Delayed checked Baggage Section of OMP

(c) Pedal Cycle Insurance.

CASE STUDY

Q9. Mr. Mathew had a Personal Accident Insurance Policy for SUM-INSURED OF Rs. 5 lacs w.e.f. 01/04/08 to 31/03/09 covering Death, Permanent Partial and Total Disablement. Mr. Mathew while lying in his bed was about to sleep, lit the cigarette. This caused fire and trapped him. He suffered severe burns. He could not recover fully and his right hand was completely crumbled. He preferred claim under above policy.

You are required to tell :

(a) Whether claim is admissible

(b) If yes, then give reasons thereof and also ascertain the liability

of the Insurer in this case.

ASSIGNMENT – C

S. N	QUESTION	A	B	C	D
1	Mediclaim Policy covers	Hospitalization Expenses	Death Compensation	Domicilliary Medical Expenses	Disability Compensation
2	P.A. Policy covers	Health Risk	Life Risk	T.P. Loss	Accidental Death & Disability Risk
3	Life Insurance Policy can be taken upon the Life of	Human Beings	Pets	Birds	Cattles
4	Motor Insurance covers	D.G. Sets	Road Vehicles	Toy Trains	Motor Boats
5	Money insurance is given to	Householders	Commercial Establishments	Advocates	Students
6	Marine Transit Policy is meant for	Ship crew members	Ships	Persons going by ships	Goods in transit
7	Professional Indemnity Policy compensates Loss due to	Damage to professional properties	Compensations Being paid to the client	Low Business	Penalty Imposed by the Authority
8	Product Liability Insurance is issued to	Private clubs hosting dinners	Food & Supply departments of the State	Manufacturers producing the goods	Consumers using the product
9	In OMP claims are settled in	UK Pounds	Indian Rupee	US Dollar	Euro Dollars
10	Maternity Benefits under Mediclaim Policy can be covered under	Group Policy	Family Policy	Individual Policy	All of above
11	Motor Package Policy is	Compulsory with Liability Cover	Optional	Compulsory with P.A. Cover	Optional with Liability cover
12	Mediclaim Insurance covers	PA and Life Risk	P.A. Risk	Health Risk	Life Risk
13	‘Blood Stock’ policy covers loss due to	Death of Blood donor	Deterioration of blood due to sudden change in temperature in blood bank	Death of patient	Death of Race Horse
14	Plate Glass Policy is compulsory with	Money Policy	Optional	Burglary Policy	Fire policy
15	Professional Indemnity Policy is not issued to	Engineers	Doctors	Farmers	Advocates
16	OMP is meant for	Engineers	Overseas Travellers	Inland Travellers	Doctors
17	Life Insurance Premium may consist of	Life Risk Cover and Savings Portion	Health Risk Cover Only	Personnel Accident Cover Only	Savings Portion Only
18	House holders policy does not cover	Theft	Loss of Profit	P.A.	Fire
19	Public Liability Insurance can be issued to	Industrial Units	Office owners	Individuals	All of above
20	In P.A. Policy compensation for loss of one limb or one eye is equivalent to	25% of CSI	50% of CSI	75% of CSI	100% of CSI
21	Burglary policy does not cover	Money in safe	Valuables in safe	Damage to property by Burglars	Money in transit
22	House Holders Policy is granted to	Office	Group	Factory	Individual
23	In Private car Motor Package Policy Maximum NCB is	50%	65%	40%	20%
24	In Motor ‘Legal Liability Only’ Policy compensation is given for Third Party	Disability Only	Death Only	Property Damage Only	All of above
25	Fire Policy may be extended to cover	T.P. Liability	Employees compensation	Loss of Profit	Burglary
26	Fire Insurance covers	Building Only	Stock Only	Life Risk	Building & Stock
27	Burglary Policy is given to	Residential Houses	Drivers	Travellers	Commercial Establishments
28	Mediclaim Policy covers Pre-Hospitalisation Expenses for	10 days	15 days	25 days	30 days
29	In Motor OD Claims Depreciation on Metal Parts is deducted @	As per Age of the vehicle	20%	50%	10%
30	Life Insurance Business is conducted by	GIC	LIC	IRDA	LIC & Private Life insurers
31	In Motor OD claims Depreciation on Rubber Parts is deducted @	40%	20%	50%	30%
32	Public Liability Insurance covers	Damage to Third Persons	Loss of Profit	Damage to Self Property	Injury to self
33	In P.A. Policy TTD benefit can be extended	4% of CSI per week	3% of CSI per week	2% of CSI per week	1% of CSI Per Week
34	Fire Insurance Policy can be extended to cover	Earthquake	War	Nuclear Risk	Lightning
35	Fidelity Guarantee Policy covers loss due to dishonesty by	Relatives	Clients	Friends	Employees
36	‘Key Clause’ in Burglary Policy refers to claim is payable only when	Burglars open safe by key handed over by insured at his own	Burglars forceably obtain keys from Insured	Burglars use duplicate key lying near safe	None of above
37	Directors and Officers Policy is issued to	IAS Officers	Directors of Corporate	Chartered Accountants	Film Directors
38	Motor (Liability Insurance ) Policy covers	P.A. Risk	Third Party Loss	Own Damage & Third Party Loss	Own Damage
39	Fire Insurance Policy covers	T.P. Liability	Fire Only	P.A. Risk	Fire & Allied Perils
40	House Holders Policy has	2 sections	5 sections	10 sections	3 sections