LIC AAO Interview Questions, Insurance Terms Asked

LIC AAO Interview Questions

The LIC AAO Interviews will begin soon. The call letters for the interviews are now out. The candidates who are preparing for LIC AAO Interview must keep an eye on the most probable questions that can be asked in the interview. One such topic that can have weightage in the interview round is Insurance Terms and concepts that can be asked in the form of LIC AAO Interview Questions. The LIC is a premier insurance agency in India and the largest insurance company also. The questions on LIC and Insurance and natural to be asked in LIC AAO Interviews. Here candidates can read the most probable LIC AAO Interview Questions from the insurance sections.

LIC AAO Interview Call Letter 2023

LIC AAO Interview Questions Insurance

The subject insurance has due weightage in LIC AAO Examination. The candidates who will appear for the interview are expected to have some idea on insurance and they are generally well-versed in terms and concepts. But the interview is a different game together, recalling concepts and facts under pressure can be a daunting experience for many. It is advisable that the candidates have a look at LIC AAO Interview Questions that can be asked so that they are not taken by surprise on the final day. Here is the list of LIC AAO Interview Questions from the insurance section that can be asked in the examination.

1. What are the different types of insurance policies?
2. How do you define insurance coverage in layman’s terms?
3. What is the difference between a participating and a non-participating policy?
4. What is the surrender value of an insurance policy?
5. Explain the concept of cash value in life insurance.
6. What is the role of a beneficiary in an insurance policy?
7. Can you differentiate between revocable and irrevocable beneficiaries?
8. What is a deductible in insurance?
9. Define co-insurance and how it works.
10. What is the contestable period in an insurance policy?
11. Explain the concept of subrogation in insurance.
12. What is no-claim bonus and how does it work?
13. What is the difference between an endowment policy and a term life insurance policy?
14. Define personal accident cover and its significance.
15. What is third-party insurance?
16. Can you explain the concept of group life insurance?
17. What is meant by the elimination period in insurance?
18. Define general life insurance.
19. What is the role of the Insurance Regulatory and Development Authority of India (IRDAI)?
20. What are the current tax exemption limits for insurance policies?
21. What do you understand by life insurance, and why is it important?
22. Can you explain the different types of life insurance policies?
23. How do you determine the premium amount for a life insurance policy?
24. What factors do you consider when assessing the risk of insuring an individual?
25. How do you handle customer objections or concerns related to life insurance?
26. What are the key elements of an insurance contract?
27. How do you calculate the maturity value or death benefit of a life insurance policy?
28. Can you explain the concept of underwriting in life insurance?
29. What are the different riders or add-on benefits that can be included in a life insurance policy?
30. How do you evaluate the financial strength and stability of an insurance company?

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