GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The person in whose name the insurance policy is made is referred to as
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Agent
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Insurer
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Insured or Policyholder
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Nominee or Beneficiary
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Explanation:
Detailed explanation-1: -2) The insured is the person whose life is being covered against the risk under the policy. 3) The insurer is the insurance company that provides the insurance cover. 4) The proposer is the person who takes the cover and is also called the policyholder.
Detailed explanation-2: -Insurer also called ‘insurance company’ is the entity that accepts the risk and promises to pay for the losses that arise within the policy term. The insurer commits to pay for loss in exchange of the premiums, paid regularly.
There is 1 question to complete.