What is the essential purpose of Life Insurance?

A It is tax rebates
B It is a good investment
C It is protection for loss of economic value of human life in the event of death or disability
D It leads to wealth accumulation

Correct Answer: It is protection for loss of economic value of human life in the event of death or disability

The essential purpose of Life Insurance is protection for loss of economic value of human life in the event of death or disability. The purpose of life insurance is to provide financial protection to surviving dependents after the death of an insured.
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According to a survey of business firms in a certain city, 750 firms offer their employees health insurance , 640 offer dental insurance and 280 offer health insurance and dental insurance. How many firms offer their employees health insurance or dental
A 920
B 1,100
C 1,110
D 1,030
Apart from the salary level, what another key feature of Alok’s job is likely to have a major impact on the level of his pension, life insurance, and health insurance needs?
A Whether the job is office or field-based
B The normal retirement age in relation to the job
C Whether the job is in the public or private sector
D Whether the job is manual or non-manual
When is it essential for insurable interest to be present in case of life insurance?
A At the time of taking out insurance
B At the time of claim
C Insurable interest is not required in case of life insurance
D Either at time of policy purchase or at the time of claim
What is the primary purpose of a life insurance product?
A Tax rebates
B Safe investment avenue
C Protection against the loss of economic value of an individual’s productive abilities
D Wealth accumulation
Private Insurance Companies started operating, in the Bangladesh Insurance market form-
A 1984
B 1985
C 1986
D 1987
--------- insurance is the oldest form of insurance that was introduced in the 12th/13th century in the northern part of Italy.
A Marine
B Fire
C Burglary
D Motor
At present approximately a total of private, public and foreign insurance companies are operating in the insurance sector of Bangladesh.
A 56
B 58
C 60
D 62
Private General insurance companies in Bangladesh must place 50% of their re-insurance business with which of the following companies?
A Jibon Bima Corporation
B ALICO
C Sadharon Bima Corporation
D Directorate of Insurance
Which of the following insurance products is offered by 'Bangladesh Insurance Academy'?
A Fire insurance
B Does not offer any insurance products
C Education insurance
D Research insurance
To allow insurance companies in private sector, 'The insurance corporatin Act 1973' was amended in the year-
A 1982
B 1983
C 1984
D 1985

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