Postal Life Insurance part of the syllabus of Inspector of post Examination held on june 2019.
All MCQ covered in this session kindly read full MCQ
POSTAL LIFE INSURANCE
1. Postal life insurance scheme started in
a) 01-02-1882 b) 01-02-1892
c) 01-02-1882 d) None of these
Ans: c
2. Who are eligible for obtaining a PLI Policy of the following
a) Central/Stage Govt employees
b) Defense services
c) Nationalized banks/RBI
d) All the above
Ans:d
3. Postal life insurance slogan is
a) Jindagi ka saath bi jindagika baad bi
b) Insuring lives ensuring future
c) Ensuring life insuring future
d) None of these
Ans: c
4. What is the max PLI policy limit for a person
a) 300000/- b) 500000/-
c) 2000000/- d) No limit
Ans:c
5. Postal life insurance policy available in
a) 5 types b) 6 types
c) 7 types d) 4 types
Ans:b
6. Mark the correct option relating to age limit
a) For WLI & EA policies the insurant should not be less than 19 year an not more than 55 year on the date of next birthday
b) For CWLA the upper age limit is 50 year
c) The max age limit for 15 and 20 year AEA is 45 and 40 respectively
d) Under Ugal suraksha policy age at entry of both the spouses should not be less than 21 year and not more than 45 year.
e) All the above
Ans:e
7. For children policy the child should be
a) Between 1 to 18 year age
b) Between 5 to 18 year age
c) Between 5 to 18 year age
d) Between 5 to 20 year age
Ans: d
8. Under non medical scheme the age at entry of proponent should not exceed
a) 35 years b) 40 years
c) 45 years d) No limit
Ans:a
9. What is the min amount AEA policy for GP D and others
a) 10000/- ,20000/- b) 20000,/- 30000/-
c) 5000/-, 10000/- d) None of these
Ans:a
10. What is the rebate allowed in advance paid premium for half year & one year?
a) 1% & 2% b) 2% & 3%
c) 2%&4% d) None of these
Ans:a
11. When the PLI policy treated as lapsed
a) Policy is less than two year old and if due installment are not paid within 6 month the policy may be treated as lapsed
b) Policy is less than five year old and if due installment are not paid within 12 month the policy may be treated as lapsed
c) Policy is less than three year old and if due installment are not paid within 6 month the policy may be treated as lapsed
d) None of these
Ans:c
12. In case the policy three year old and if premium is not paid for 12 month and more then the permission form the ______ is necessary
a) DDG PLI b) DG Post
c) Head of the Circle d) SSP/SP
Ans:c
13. Mark the correct option
a) The WLA policy can be converted into EA after one year
b) The EA policy can be altered and value can be reduced after one year of issue
and before one year of maturity
c) CWL policy cant be converted into EA policy at the end of the 5 year.
d) All the above
Ans:d
14. In the event of policy holder committing suicide
a) The full maturity benefit will be paid b) No claim will be entertained in suicide cases c) Within two year from the date of policy, the policy will be treated as void and no
claim will be entertained
d) The premium will be returned a/w SB interest Ans:c
15. How can we revive the lapsed PLI policy?
a) Lapsed PLI cannot be revived
b) Lapsed PLI can be revived after the sanction of the DG Post
c) Lapsed PLI can be revived with the order of the CPMG and on paying all the installment due along with 12% interest and also producing medical fitness
certificate
d) Lapsed PLI can be revived getting another policy
Ans:c
16. Mark the incorrect option Limit of death claim benefit under non medical scheme is if death occurs within
a) 1 year 35%of sum assured a/w accrued bonus b) 2 years 60% of sum assured a/w accrued bonus
c) 3 years 90% of sum assured a/w accrued bonus d) 4 years 100 % of sum assured a/w accrued bonus
Ans:d ( It is desirable to opt for policy medical scheme to get full benefit)
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