Scenario based - Snake & Ladder game
Question 1
Mr. Dheeraj, 37 yr old customer is not willing to renew his policy as he feels that Fixed deposit is offering better returns that his current plan (SWP). What rebuttals should be given to the customer?
SWP is completely guaranteed product
Premium paid for SWP along with maturity/death amount is exempted under sec 80C and 10(10)D respectively
All of the above(Answer)
Sum assured of 11 times of the annulaised premium is provided to the nominee in case of death
Question 2
While purchasing SEWA product, Mr. Ravi enquires through the seller that he is already having a health insurance policy. How will Max Life SEWA product help in case of any health condition?
Mr. Ravi can claim for his existing health policy as well as SEWA for same hospitalization
Mr. Ravi can claim for his hospitalization only if the existing health policy rejects his claim
Mr. Ravi can choose to avail the claim from either SEWA or his existing health policy
None of the above
Question 3
Mrs.Swati purchased SEWA Elite variant with 1 Lac annual premium and 10lac sum assured. How much amount as percetage of Sum assured will be paid in case of Non ICU Hospitalisation? Select the correct amount payable to her per day.
10,000
1000
2000
20000
Question 4
Mr. X has registered himself on ECS with a premium of Rs. 20,000 (due date ý 9th March) and the payment draw date is 12th March. Customer has paid the premium manually on 9th March and called Helpline to know the premium updation status. Where will we check the premium & auto-debit instruction in the system?
My Money
My Money & UNO
Ingenium & UNO
None of the above
Question 5
Mr. Gupta purchased the FTS policy with High Growth fund in 2018. Now, in 2021, due to his low risk appetite he wants to discontinue his plan. How and what will CSE suggest which fund is better as per his requirement?
Conservative Fund
Growth super fund
Balanced fund
None of the above
Question 6
Mr. Sharma bought Max Life Forever Young Pension Plan Regular Pay in Apr 2020. He calls MLI to clarify the Premium allocation charge in his policy in the year 2021.
Nil
1%
2%
None of the above
Question 7
Mr. Singh aged 35 years purchased Max Life Platinum Wealth Plan with the details as below: Premium Payment Term = 20 years; Policy Term = 20 years; Mode of Payment = Annual Annualized premium = ` 5,00,000; Fund chosen: Growth Super Fund Customer wants to know what would be criteria of Guaranteed Loyalty addition in the policy?
Guaranteed Loyalty Addition = 0.10% of Fund Value shall be added at the end of Year 11, Increasing by 0.05% every year
Guaranteed Loyalty Addition = 0.10% of Fund Value shall be added at the end of Year 6, Increasing by 0.05% every year. (Answer)
Guaranteed Loyalty Addition = 0.10% of Fund Value shall be added at the end of every year, Increasing by 0.05% every year.
A & B both
Question 8
Mrs. Verma, raised a request for cancellation of policy under miss-selling after one year of the policy and we have declined the request under free look clause, then acceptance status in UNO would be______________
Redressed
Partially Accepted
Rejected
None of the above
Question 9
Mr. Ramesh purchased Platinum Wealth plan in 2019 with a regular pay mode. He has paid premium for 2yrs and not interested for renewing the policy in 2021. He complained that the admin charges applied are very high in the policy. What should be the rebuttal given to Mr. Ramesh by us
There are no admin charges in the policy
Zero admin charges after 5yrs from the start of the policy (Answer)
We only charge a minimal amount of Rs.400 per month during the policy term.
Question 10
Mr. Nandan purchased Fast Track Super Plan policy in Aug'2018. He paid the premium till 2020. On 1st May 2021, customer approached MLI asking for partial withdrawal from his policy as he is in need of money due to medical emergency. What will be the resolution given by us
Advise customer that he can withdraw maximum 50% of available Fund Value
Advise customer that he can withdraw maximum 20% of available Fund Value
Partial withdrawal is not allowed
PUA surrender
Question 11
Mr. Gupta purchased Fast Track Super 5 Pay policy in the year 2017.He is dissatisfied that he did not receive any extra benefit/addition in the policy as suggested by executive at the time of policy inception. Select the possible reason?
Mr. Gupta did not receive the Guaranteed Loyalty addition due to low fund value
0.30% of Fund Value will be added at the end of every year starting from 11th year and will increase with 0.02% each year
The Guaranteed Loyalty addition benefit starts from 11th year onwards (Answer)
0.30% of Fund Value will be added at the end of every year starting from 6th year and will increase with 0.02% each 5th year
Question 12
Mr. Ramesh having PWP plan from 2016 is in need of money during the term of the plan due to medical emergency and wants to surrender his policy. What option can be offered to retain him?
Partial Withdrawal
Switching of Funds
Redirection of Funds
None of the above
Question 13
Mrs. Nancy has purchased Shiksha Plus super plan on 20th Dec 2019 which was lapsed due to nonpayment. Now she wishes to continue the same plan. Starting from Inception, choose the maximum period available to her for revival of the policy?
2yrs
No revival period is available in ULIPs
5yrs
3yrs
Question 14
Anupam, purchased FYPP regular pay policy in Feb 2016, investing Rs.2Lakhs p.a. After paying for 6 years, due to pandemic, he wants to surrender the policy. What is the suitable answer cs user should give?
Yes Sir, surrender is possible as your policy has completed 5 years. You shall get full surrender value with bonus
Yes Sir, surrender is possible as your policy has completed 5 years. FYPP is a pension plan and you will only get 1/3rd of your surrender value back rest 2/3rd has to be invested in pension plan (Answer)
Yes Sir, surrender is possible as your policy has completed 5 years. FYPP is a pension plan and you will get 2/3rd of your surrender value back rest 1/3rd has to be invested in pension plan.
No amount will be refundable
Question 15
Mr. Nandan purchased Fast Track Super Plan policy in Aug'2018. He paid the premium till 2020. On 1st May 2021, customer approached MLI asking for partial withdrawal from his policy as he is in need of money due to medical emergency. What will be the resolution given by us
Request Max Life to reduce the premium by 50%
Withdraw the Fund Value as option of premium reduction is not available
Premium reduction option is not available for policy issued in the year 2020
Premium reduction can only be exercised post 5year lock-in period