LIC ADO Interview Questions PDF 2019 – Interview Preparation Tips

LIC ADO Interview Questions PDF: Dear Aspirants, We hope all of you vigorously prepared for LIC ADO Interview 2019. At this time all of you want to know about LIC ADO Interview Preparation. For doing better preparation, candidates have to collect LIC ADO Interview Questions. Previously LIC has conducted ADO interview on 2019, aspirants have to collect previous LIC ADO Interview questions. For that we have provided LIC ADO Interview questions pdf, which having previous year interview questions and also update questions for this year LIC ADO Interview Preparation. Candidates can utilize our LIC ADO Interview Questions PDF for better performance in LIC ADO Interview. Herewith we have given some LIC ADO Interview questions for candidate’s preparation.

LIC ADO Interview Questions PDF 2019 – Interview Preparation Tips

  1. What is meant by With Profit and Without Profit in Insurance Policy?

Ans. With Profit Insurance policy is bonuses are added if any after periodical calculations which are applicable to the policy. And the added amount is payable along with the policy amount. Insurance Policy without profit is the mature policy amount has no added amount. There is no bonuses or amount are added only policy matured amount if payable.

  1. What do you mean by Keyman Insurance?

Ans: This is obtained from business platform on the life of key employees to protect the business from financial losses. The losses may occur due to premature demise of the Keyman.

  1. What is the Insurance Sector’s FDI Limit?

Ans: In India, FDI limit for Insurance Sector is 49%. The government increased the FDI Upper limit from 26 % to 49% in the year 2014.

  1. What do you understand about Life Insurance?

Ans: Life Insurance is the agreement between policy holder and insurance organization. The Organization approves to provide the compensation for the incident happened to the policy holder like death or terminal illness or critical illness. The policy holder is accepting to pay the defined amount in terms of cover premium for the service.

  1. List the available Insurance Types.

Ans: Life Insurance, Vehicle Insurance, Health Insurance, Credit Insurance, Property Insurance.

  1. Explain about the types of Insurance companies?

Ans: Life Insurance Company – It provides insurance policies for life, pension products and allowances. (Eg. LIC)

General Insurance Company – It provided insurance policies for vehicle, health, property and so on. (Eg. Insurance in Bank, Bajaj Allaianz)

  1. Where is LIC Head Quarters located?

Ans: Mumbai.

  1. What are the main objectives of LIC?

Ans:

  • Spread Life Insurance widely and in particular to the rural areas
  • Maximize mobilization of people’s savings
  • Conduct business with utmost economy and with the full realization
  • Meet the various life insurance needs of the community that would arise in the changing social and economic environment.
  • Promote amongst all agents and employees of the Corporation a sense of participation, pride and job satisfaction.
  1. What are the roles and responsibilities of Development Officer?

Ans:

  • Supervise and guide the events of the Agents.
  • Increase the joining of new agents to the company.
  • Motivate new Agents, so as to grow a stable agency force.
  1. Who is the current Chairman of LIC and IRDA?

Ans:

  • R Kumar has been appointed as Managing Directors of the LICfor five years from
  • Subhash Chandra Khuntia – Chairman of IRDA (Insurance Regulatory and Development Authority of India).
  1. When was LIC founded?

Ans: LIC was founded on 1st September 1956.

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