ISR3701: Non-Life Insurance pack includes multiple choice questions on various topics related to non-life insurance, such as personal accident insurance, reinsurance, deductibles, and risk management and more. The questions cover past assignments and exams. This pack has over 300 MQS. The document ...
Which one of the following occurs within a certain number of months of the accident for the benefit to be payable?
a. Death benefit
b. Temporary total disablement
c. Medical expenses
d. Permanent disablement
b. Temporary total disablement
Temporary total disablement benefits are typically payable when the insured person is unable to work for a certain
period due to an injury caused by an accident. The benefit is usually paid on a weekly basis for a limited period, which is
typically a certain number of months. This is because the benefit is intended to provide financial assistance to the
insured person while they recover and are unable to work, rather than as a permanent source of income. Once the
insured person is able to return to work, the benefit payments will cease.
Personal accident insurance cover is normally restricted to persons between the ages of ____________ years old.
a. 2 and 12
b. 18 and 60
c. 13 and 18
d. 15 and 70
b. 18 and 60
Personal accident insurance provides coverage against accidental death, disablement or bodily injury caused
by an accident. Insurance companies typically restrict coverage based on age, occupation and other risk
factors, as the likelihood of accidents can vary significantly depending on these factors.
In the case of personal accident insurance, coverage is typically restricted to persons between the ages of 18
and 60.
This is because people in this age group are considered to be in their prime years, when they are most likely to
be active and engaged in a variety of activities that could potentially result in an accident. Insurance companies
may charge higher premiums or impose additional restrictions for individuals who are older or younger than
this age range, as they may be considered to be at a higher risk of accidents or may have pre-existing health
conditions that increase the likelihood of an accident.
Which one of the following is used to cover physical loss?
a. Consequential loss
b. Contract works
c. Material damage
d. Motor policy
c. Material damage
Material damage insurance is designed to cover physical loss or damage to property caused by a range of perils
such as fire, theft, flood or accidental damage. This type of insurance is commonly used to cover buildings,
contents, plant, machinery and other physical assets that are essential to the operation of a business.
Consequential loss insurance, on the other hand, is designed to cover losses that arise as a result of ………….
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