GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A single Insurance company offers both life and non-life policies is known as ____
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Service Provider
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Composite Insurer
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Mutual Insurance Company
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None of the Above
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Explanation:
Detailed explanation-1: -Life insurance provides a lump sum amount of sum assured at the time of maturity or in case of death of the policyholder. Non-life insurance policies offer financial protection to a person for health issues or losses due to damage to an asset.
Detailed explanation-2: -Dual insurance (or double insurance as it is also called) arises when the same party is insured with two or more insurers in respect of the same interest in the same subject matter against the same risk and for the same period of time.
There is 1 question to complete.