Medical and health insurance, is an insurance policy which is designed to cover the cost of private medical treatment, which can be very expensive, especially with hospitalisation and surgery. If it is a new vehicle, the insured value will be the purchase price. What Is The Difference Between Insurance And Takaful? Basic principals of takaful are as follows: Question 6. Tell Me What Is Medical And Health Insurance? In this type of policy, you share the coverage with, the insurance company in percentage of the policy value, after paying deductible or co-payment. You must have a legitimate financial interest in the subject matter to participate in a takaful plan. However, make sure that you have done your homework well and know the exact figures. So which financial institution would be better to apply for health insurance? Question 55. Question 8. The same should be done if you are part of a theater group or any other team for that matter. Interview Questions and Answers for Experienced Freshers PDF. What Is General Insurance? After clicking the below "Download Health Insurance Specialist Interview Questions" button you must have to stay for a couple of seconds to process and complete your request. It is different from life insurance and medical & health insurance. Soil Mechanics and Foundation Engineering, Read Online Health Insurance Specialist Job Interview Questions And Answers, Health Insurance Specialist Interview Questions, Download Health Insurance Specialist Interview Questions. Your bank still owes money from you in such case when you claim the insurance; the insurance company will pay money directly to Bank or person you owes money. Give all material facts about your vehicle, including previous accidents (if any), modification to engines, etc. Question 45. Get all 20 interview questions and suggested answers for your Insurance Interview, plus FREE bonus access to our bestselling online interview training course, which contains over 50 powerful video modules to quickly get you interview ready (and they work for ANY interview). Think about the personality traits that make you apt for the job that you want, and make them a reason for wanting to work in the insurance industry. Takaful is a protection plan based on Shariah principles. Insurance is the transfer of risk by an individual, such as yourself, or an organisation, such as your business, to the insurance company. It is a legal definition used to cover the investment of other parties or bank that is owned by you. This policy provides additional coverage compared to the basic fire policy. Question 1. You can also buy more than one policy or plan to protect a particular risk but in the event of loss or damage, you can only make one claim. The main products of general insurance includes: Question 29. Question 18. You love meeting new people and helping people in need. Question 33. Understand the policy or plan including the product features, conditions, benefits limitations and exclusions, Ensure that the premium or contribution payable is affordable, Ensure that the amount of coverage taken is adequate and suits your needs, Ensure that all material facts are fully disclosed, Deal only with registered agents/licensed brokers or directly with an insurance company or takaful operators, Monitor the period of coverage and time for payment of premium or contribution, Directly from insurance companies or takaful operators, Through registered agents or licensed brokers, From banking institutions that have bancassurance arrangements with insurance companies or takaful operators, Fire/ House owners/ Householders insurance, Property loss, for example, stolen car or burnt house, Liability arising from damage caused by yourself to a third party. INSURANCE Interview Questions and Answers pdf free download for freshers and experienced latest mcqs real time objective type tutorials. The insurance company will pay the insured in case of damage or  claims made by the insured according to their ‘insurance coverage’. Question 38. List Some Useful Pointers When Buying An Insurance Policy Or Takaful Plan? You will get the amount at the end of the term. This protection is also offered in a Family takaful plan, a Shariah-based approach to protecting you and your family. If a loss is covered by more than one takaful plans or insurance policies, the takaful operator that has made payment to you may call upon other takaful operators or insurance companies to contribute proportionately to the payment. Question 57. What Is The Formula For The Calculation Of Gratuity? Deductible is one of the several types of clause that are used by the insurance company as a threshold for policy payment for health insurance or travel insurance. Being a team player is getting more and more important in today’s specialized world. What Do You Mean By ‘loss Payee’? What Is A Mortgage Reducing Term Assurance In Life Insurance? While in ‘Irrevocable beneficiary’ the policy holder has to take consent of the beneficiary before the name is changed. A rider is a supplement attached to the basic insurance plan such as endowment or whole life. Question 49. The best way to answer these questions is to be as aware of your industry as possible. The policy ceases as soon as you withdraw the money, and the insured will lose out all the returns on it. The amount payable will then be contributed by the insurance companies involved. This policy does not cover damage to the house itself. The coverage period for life insurance is usually more than a year. What Is ‘declaration Page’ In Insurance Policy? No claim bonus is a benefit for those who have not claimed insurance during the preceding year of cover. What Do You Do While Buying An Insurance Policy? Motor insurance covers your vehicle, be it a motorcycle, a car or a lorry, in case of accidents or theft. The sum assured by the insurance company is reduced proportionally depending when insured has stopped paying the premium. Question 20. An insurance protection plan that covers the repayment of an outstanding property loan to the financial institution in the event of untimely death, disability or critical illness of the borrower. The selling of life assurance and other insurance products and services by banking institutions is called bancassurance. What Are The Main Products Which Are Included In General Insurance? Both insurance and takaful have similar basic principles. But in other case it is not advisable as you will lose all the benefits of the previous policy also the premium will go high as you go older.

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