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Banking Sample Paper SBI Clerk Grade (Main) Sample Test Paper-2

  • question_answer
    A general or life insurance policy with a sum assured of Rs. Fifty Thousand or less is known as a ______

    A)  Micro Insurance Policy

    B)  Plain Insurance Policy

    C)  Standard Insurance Policy

    D)  Basic Insurance Policy

    E)  Generic Insurance Policy

    Correct Answer: A

    Solution :

     Insurance Regulatory and Development Authority (IRDA) has created a special category of insurance policies called micro-insurance policies to promote insurance coverage among economically vulnerable sections of society. A micro-insurance policy is a general or life insurance policy with a sum assured of Rs 50,000 or less.


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