Correct Answer : 74%
Union Finance Minister Nirmala Sitharaman announced an increase in Foreign Direct Investment (FDI) limit in insurance from 49% to 74%. Tabling the Union Budget for 2020-21, she said, “We propose to amend the Insurance Act, 1938 and will launch a new investor charter for investor protection.
Correct Answer : Life Insurance Corporation Of India
Correct Answer : 2000
Correct Answer : Insurance
Correct Answer : 1999
It was constituted by the Insurance Regulatory and Development Authority Act, 1999, an Act of Parliament passed by the Government of India.
Correct Answer : Surrendered value
Surrender value is the amount the policy holder will get from the insurance company if he exits the policy before maturity, but after payment of premium for full 3 years. So if a person has payed premium for 3 years, he can opt out of the policy and get the money proportionally (it will obviously be less than that he would have got at maturity)
Correct Answer : Mumbai
