Insurance related Interview Questions

1.       What is Insurance?

2.       What is an insurance policy?

3.       What is co-insurance?

4.       Which kind of insurance does NICL deal with?

5.       What is the difference between General and Life Insurance?

6.       What is re-insurance?

7.       What is third-party insurance?

8.       Which company was NICL a subsidiary?

9.       Which kind of insurance does NICL deal with?

10.   When was NICL founded?

11.   Who was the founder of NICL?

12.   Where is the NICL-Headquarters?

13.   Who is Chairman and MD of NICL?

14.   Name the country other than India in which NICL serves.

15.   How many offices does NICL have across India and Nepal?

16.   What is gap insurance?

17.   What are the different types of life insurance?

(a)    Term insurance

(b)    Unit linked insurance plans

(c)     Whole life insurance

(d)    Child insurance plans

(e)    Endowment plans

(f)      Term insurance with return of premium

(g)    Group life insurance

(h)    Retirement plans

(i)      Money-back policy

18.   What is risk management, and why is it essential in insurance?

19.   How do insurance companies make a profit?

20.   Describe the principle of indemnity in insurance.

21.   What is the role of an underwriter in the Insurance Industry?

22.   What is Insurance Coverage?

23.   What are the various kinds of Insurance Coverage?

24.   What is meant by beneficiary?

25.   What do you mean by Insured and Insurer?

26.   How much life insurance does a person need?

27.   What is the difference between term and whole life insurance?

28.   What is the key difference between life insurance and health insurance?

29.   Who regulates life insurance in India?

30.   Can you explain the importance of reinsurance in the insurance industry?

31.   What is a premium?

32.   What do you mean by ‘Annuity”?

33.   What is subrogation?

34.   Is the insurance company liable to pay on account of suicides?

35.   What is the difference between ‘Irrevocable Beneficiary’ and ‘Revocable Beneficiary’?

36.   What of you mean by the Contestable Perido in an Insurance Policy?

37.   What is a deductible?

38.   What is a non-claim bonus?

39.   What is a loss payee?

40.   What do you mean by surrender value?

41.   How do you mean by Paid Value?

Personal Questions:

1.       Tell me about yourself.

2.       What interests you about the insurance industry?

3.       What can you bring to the company?

4.       What are your greatest strengths and weaknesses?

5.       What makes you a good hire for the company?

6.       Which of your soft skills are the most relevant to this role?

7.       What motivates you to achieve more at work?

8.       How do you stay organized in your insurance role?