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.You need to login to perform this action.
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