POSTAL LIFE INSURANCE

1.

Postal life insurance scheme started in

a)
c)

2.

b)
c)
d)
e)

Ans:d

Jindagi ka saath bi jindagika baad bi

Insuring lives ensuring future
Ensuring life insuring future
None of these

Ans: c

300000/2000000/-

b)
d)

500000/No limit

Ans:c

5 types
7 types

b)
d)

6 types
4 types

Ans:b

For WLI & EA policies the insurant should not be less than 19 year an not more
than 55 year on the date of next birthday
For CWLA the upper age limit is 50 year
The max age limit for 15 and 20 year AEA is 45 and 40 respectively
Under Ugal suraksha policy age at entry of both the spouses should not be less
than 21 year and not more than 45 year.
All the above
Ans:e

Between 1 to 18 year age

Between 5 to 18 year age

b)
d)

Between 5 to 18 year age

Between 5 to 20 year age Ans: d

Under non medical scheme the age at entry of proponent should not exceed
a)
c)

9.

Defense services
All the above

For children policy the child should be

a)
c)

8.

b)
d)

Mark the correct option relating to age limit

a)

7.

Central/Stage Govt employees

Nationalized banks/RBI

Postal life insurance policy available in

a)
c)

6.

Ans: c

What is the max PLI policy limit for a person

a)
c)

5.

01-02-1892
None of these

Postal life insurance slogan is

a)
b)
c)
d)

4.

b)
d)

Who are eligible for obtaining a PLI Policy of the following

a)
c)

3.

01-02-1882
01-02-1882

35 years
45 years

b)
d)

40 years
No limit

Ans:a

What is the min amount AEA policy for GP D and others

a)
c)

10000/- ,20000/5000/-, 10000/-

b)
d)

20000,/- 30000/None of these

Ans:a

10.

What is the rebate allowed in advance paid premium for half year & one year?
a)
c)

11.

1% & 2%
2%&4%

b)
d)

2% & 3%
None of these

Ans:a

When the PLI policy treated as lapsed

a)
b)
c)
d)

Policy is less than two year old and if due installment are not paid within 6
month the policy may be treated as lapsed
Policy is less than five year old and if due installment are not paid within 12
month the policy may be treated as lapsed
Policy is less than three year old and if due installment are not paid within 6
month the policy may be treated as lapsed
None of these
Ans:c

12.
In case the policy three year old and if premium is not paid for 12 month and
more then the permission form the ______ is necessary
a)
c)
13.

c)
d)

d)

Ans:c

The WLA policy can be converted into EA after one year

The EA policy can be altered and value can be reduced after one year of issue
and before one year of maturity
CWL policy cant be converted into EA policy at the end of the 5 year.
All the above
Ans:d

The full maturity benefit will be paid

No claim will be entertained in suicide cases
Within two year from the date of policy, the policy will be treated as void and no
claim will be entertained
The premium will be returned a/w SB interest
Ans:c

How can we revive the lapsed PLI policy?

a)
b)
c)
d)

16.

DG Post
SSP/SP

In the event of policy holder committing suicide

a)
b)
c)

15.

b)
d)

Mark the correct option

a)
b)

14.

DDG PLI
Head of the Circle

Lapsed PLI cannot be revived

Lapsed PLI can be revived after the sanction of the DG Post
Lapsed PLI can be revived with the order of the CPMG and on paying all the
installment due along with 12% interest and also producing medical fitness
certificate
Lapsed PLI can be revived getting another policy
Ans:c

Mark the incorrect option

Limit of death claim benefit under non medical scheme is if death occurs within
a)
1 year 35%of sum assured a/w accrued bonus
b)
2 years 60% of sum assured a/w accrued bonus
c)
3 years 90% of sum assured a/w accrued bonus
d)
4 years 100 % of sum assured a/w accrued bonus
( It is desirable to opt for policy medical scheme to get full benefit)

Ans:d

17.

Mark the correct option relating to the loan on PLI policy (WLA)
a)
b)
c)
d)

18.

e)

Rs 1/Rs 5/-

b)
d)

Rs2/Free

Ans:d

24 Mar 1995
01 Apr 2004

b)
d)

20 Jan 2006
None of these

Ans:b

What is the latest bonus rate from 31 Mar 2006?

a)
b)
c)
d)

24.

Interest at 10% per annum is charged on the loan compounded half yearly
Second loan is not admissible until first loan is cleared.
Loan are not available on AEA policies
The risk is covered on the PLI policy by dept only from the date of acceptance
of the proposal by the CPMG
All the above
Ans:e

The children policy in PLI and RPLI was introduced in

a)
c)

23.

Ans:d

Nomination fee for changing/altering of PLI policy is

a)
c)

22.

Exceeding 3 years but not exceeding 5 years 60%

Exceeding 5 years but not exceeding 10 years 80%
Exceeding 10 years 90%
All the above

Mark the correct option

a)
b)
c)
d)

21.

Ans:d

Mark the correct option relating to the loan on PLI policy (EA)
e)
f)
g)
h)

20.

Exceeding 4 years but not exceeding 7 years 60%

Exceeding 7 years but not exceeding 12 years 80%
Exceeding 12 years 90%
All the above

WLA continuing Rs 90/- per thousand rupees of sum assured

EA continuing policies Rs 70/- per thousand rupees of sum assured
AEA continuing Rs 65/- per thousand rupees of sum assured
All the above
Ans:d

Mark the incorrect option

a)

EA & Yugal suraksha policies may be surrendered or made paid up after 3

years.
b)
WL and CWL policies may be surrendered or made paid up after 4 years
c)
AEA policy may be surrendered after 3 year
d)
All the above
Ans:c
( AEA policy cannot be surrendered)
25.

As per revised Govt policy the insurant will get approximately

a)
b)
c)
d)

Less than 40% of total premia paid by him, if surrendered before completion of
5 years
75% after completion of 5 years but before 10 years
Full recovered amount after 10 year
All the above
Ans:d

RURAL POSTAL LIFE INSURANCE

26.

Rural postal life insurance started in

a)
c)

27.

b)
d)

23 Feb 1995
25 Mar 2006

Ans:a

b)
d)

300000/100000/-

Ans:b

The max limit of RPLI is

a)
c)

28.

24 Mar 1995
24 Mar 1994

500000/1000000/-

PLI services tax and edn cess has been withdran form
a)
c)

1 Nov 07
1 May 95

b)
d)

01 Mar 2005
None of these

Ans:a

29.
Rebate is allowed on advance deposit of premium on RPLI for Qtly/Half
year/year is
a)
b)
30.

1%, 2%,3%
0%, 1%,2%

b)
d)

0.50%,1%,2%
No rebate in RPLI

An extra departmental agents group insurance scheme started in

a)
01 Apr 1994
b)
01 Apr 1996
c)
01 Apr 1992
d)
None of these
(Sum assured to Rs 50000/- and the subscription to Rs 50/-)

31.

Ans:c

Mark the correct option

a)
b)
c)
d)

32.

Ans:b

SDI/ASPDs shall be entitled to an incentive equal to 10% of the commission

paid to the agents
A policy holder of WLA PLI/RPLI shall be eligible for tacking Children policy to
his/her child
Mail overseer should have min 10th standard qualification for doing this job.
All the above
Ans:d

Payment of incentive to Dos(PLI)

a)
b)
c)
d)

Up to Rs 4 crores of sum assured Nil

Above Rs 4 crores and up to Rs 6 crores of sum assured Rs 25/- per 10000/Above Rs 6 crores of sum assured Rs 20/- per 10000/All the above
Ans:d

33.
The decision of competent authority that DO(PLI) procuring effective business
to the tune of ____ or more shall no be eligible for automatic extension of tenure for
the next ___ year. Such extension will be granted by ______subject to good
work,conduct & satisfactory record in the year.
a)
b)
c)
d)

10 crores, 1 year, Head of the circle,

20 crores, 2 year, DG Post
25 crores, 1 year, Head of the circle
25 cores. 1 years, SSP/SP

Ans: c

34.

Mark the correct option

a)
b)
c)
d)

35.

Mark correct option relating to the mail overseers to procure RPLI business
a)
b)
c)
d)

36.

In RPLI policies with non standard proof or age is Rs 1 lac

The 5% extra premium on non standard proof of age policies
In non standard proof or age policies the age of the insurant should not be
exceed 45 years
All the above
Ans:d

The mail overseer will first complete their assigned work correctly before
attending to the RPLI business
No TA/DA will be admissible or canvassing RPLI business except on RPLI
mela organized by the circles
They should have min 10th standard qualification for doing this job
All the above
Ans:d

The min RPLI policy limit is

a)
c)

20000/10000/-

b)
c)

25000/15000/-

Ans:c

37.
The system of payment of honorarium to staff (including supervisors) of
divisional office for procuring of PLI/RPLI proposal is Rs
a)
c)
38.

4000/No honorarium

Ans:b

300000/100000/-

b)
d)

500000/None of these

Ans:c

Mark the incorrect option

a)
b)
c)
d)

40.

b)
d)

The max PLI policy limit for a physically handicapped persons is

a)
c)

39.

5000/1000/-

Not more than one policy will be allowed for one child. The policy can be
taken by insured for his/her own child only
Not more than two children in a family shall be covered under this policy.
The same child should not be covered under more than one policy
The insured of main policy shall not be aged 45 years and above at the time
of taking of children policy
The age of the child note more than 18 year at the time of issue of children
policy
Ans:d

Mark the incorrect option relating to Children Policy

a)
b)
c)
d)
e)

The minimum limit for insurance under this scheme shall be Rs2000/Agency commission not available in this scheme
No loan shall be applicable to children policies.
The outstanding term of main policy shall not be less than the premium paying
period of children policy.
In the event of the death of the insured before the expiry of the children policy
no further premium shall be payable for the balance period of the policy.
Ans:c