State whether the statement is True or False. Answer any 5 out of the given
6 questions.
i. General Insurance Covers all types of risks including risk of loss of life.
ii. At present the on Life Insurance Business can be carried out only by Life
Insurance Corporation of India Limited. No other Company can carry out Life
Insurance Business.
iii. The party which transfers his potential loss is termed as the ‘Insurer’.
iv. Insurance provides security to the Insured and is an effective tool of
increasing efficiency.
v. There are two types of Insurance viz. Life Insurance and General Insurance.
vi. Life Insurance Corporation of India, the sole Public Sector Company carrying
out Life Insurance Business in India.
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