Business Services Test - 27

Health insurance provides coverage for medical expenses and treatments incurred due to illness, injury, or disability.

Cash Credit is a short-term loan facility provided by banks, allowing borrowers to access funds against the security of goods or commodities for immediate financing needs.

The Insurance Act, 1938 is a law originally passed in 1938 in British India to regulate the Insurance sector. It provides the broad legal framework within which the industry operates.

Cash Credit is a type of short-term loan provided by banks to individuals or businesses, allowing them to borrow funds against the security of goods or commodities.

The minimum period for Term policy is 1 Year and more. The death benefit of the policy is paid only if the insured dies during that period. If the insured lives beyond the term period, no death benefit is paid. Typically, there are no cash values or loan values for term life insurance.

When the maker or holder of negotiable instrument signs the same, otherwise than as maker, for the purpose of negotiation on the back or face thereof or on a slip of paper annexed thereto, or signs for the same purpose a stamped paper intended to be completed as a negotiable instrument, he is said to have endorsed the same and is called the endorser. Endorsement consists of the signature of the maker (or drawer) payee of a negotiable instrument with the intention of negotiation.

E-Banking refers to electronic banking services that allow customers to conduct various banking transactions online, including fund transfers, bill payments, and account management.

A money back policy is a more complex life insurance policy than a term plan or a standard life insurance. A normal term plan or standard life insurance covers death risk and assures to pay sum to the insured party on maturity. But a money back policy provides additionally certain amounts called survival benefits in addition to the sum assured and a bonus from the insurance company based on its performance.

Stale check is a check that is presented to be cashed or deposited at a bank six months or more after the date it was written. The date when the check is presented to be cashed or deposited in a bank account is known as the payment date.

Life Insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder).