Skip to content

NISM Certifications · NISM-Series-X-B: Investment Adviser (Level 2) · Non-Life Insurance Products

Which feature best describes a family floater health insurance policy?

A family floater has one sum insured shared by all covered family members during the policy year, and any member can claim against it until it is exhausted. This differs from individual policies with separate limits and from fixed-benefit critical illness plans.

  1. AEach member has a separate sum insured that cannot be shared
  2. BA single sum insured is shared by all covered family members during the policy yearCorrect
  3. CIt pays a fixed amount on diagnosis of a listed illness
  4. DIt covers only the proposer and never dependants

Explanation

A family floater provides one sum insured that any covered member can use, until exhausted in the policy year. Separate sums describe individual policies, fixed payouts describe critical illness benefit policies.

Did you get it right without looking?

One question tells you little. A timed set on Non-Life Insurance Products shows your real accuracy, how long you take and where you lose marks.

Practise Non-Life Insurance ProductsFree diagnostic mock

More Non-Life Insurance Products questions