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Goodwill Valuation (Retirement)

policy compen...

Question

_____ policy compensates the insured groups members in case they meet with an accident during their employment.

A

Group Personal Accident Insurance Cover

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B

Group Health Cover

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C

Group Term Life Cover

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D

Workers Compensation Insurance

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Solution

The correct option is B Group Personal Accident Insurance Cover
Group Personal Accident Insurance Cover policy compensates the insured groups members in case they meet with an accident during their employment. This policy provides full coverage in the event of death or disablement of the policy holder. Group Personal Accident Insurance Cover policy also provides discount on the number of members.

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Q. An insurance company insured 2000 scooter drivers, 4000 car drivers and 6000 truck drivers. The probabilities of an accident involving a scooter driver, car driver and a truck driver are 0.01, 0.03 and 0.15 respectively. One of the insured persons meets with an accident. The probability that the person is a scooter driver is

Q. An insurance company insured

2000

scooter drivers,

4000

car drivers and

6000

truck drivers. The probability of an accidents are

0.01, 0.03

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Q. A n insurance company insured 2000 scoo terdrivers. 4000 car drivers and 6000 truck drivers , 7 he probeblitey of an accident involving a scooter. a and truck is

\frac{1}{100}, \frac{3}{100} a n d \frac{3}{20}

respectively. one of the insured persons meets with an accident. what is the probability that he is a scooter driver?

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car drivers, and

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\frac{p}{q}

q - p

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