1. Who was the first person to have a life insurance policy?

William Gibbon’s life was insured by

Richard Markin.
2. What is the first life insurance company of the world? Hand in Hand, 1696
3. What is the first life insurance company of this subcontinent? The oriental life insurance
company, 1818
4. when did insurance first start in Bangladesh? 1972
5. what is the only government owned life insurance company of Bangladesh? Life insurance
corporation of Bangladesh
6. What is the amount that a policyholder or annuity holder gets from the insurance
company if they end the policy or contract before its maturity date or the insured event
called? Surrender value
7. principle of indemnity is not applicable in which insurance policy? Life
8. ‘Mortality Table’ was first prepared by whom? Edmund Haley
9. When & where did life insurance first start? 1696, London
10. The term ‘Hand in Hand’ is reflected in which insurance? Life
11. Mortality table is used to measure probable risk in which insurance? Life
12. Principle of Subrogation & Double insurance DOES NOT apply to which insurance? Life
13. How many foreign insurance companies are active in BD? 1, ALICO-American Life Insurance
Company
14. What is the first step in the process of insurance agreement? Proposal
15. Which risk is minimal in Life insurance? Moral
16. What is the highest percentage of surrender value in BD? 80%
17. At least how many years are needed to me completed to give surrender value? 2 Years
18. Insurance agreement is in action after the deposit of which premium installment? First
19. What are the minimum & maximum period for ‘Term Policy’? 2-3 months to 5-7 Years
20. If an insurance policy is taken for all the workers in a spinning mill, what kind of policy is that?
Group Insurance
21. Based on maturity period, life insurance can be divided into? 3 Policies. 1. Whole Life 2.
Endowment 3. Term Policy
22. ‘ Life insurance is a rainbow in a cloudy sky’- by whom was this quoted? Benjamin Franklin
23. Insurance claim is paid only at the death of the policy holder under which Policy? Pure
Endowment Policy
24. Death rate is calculated on Mortality table on___? Every Thousand
25. Under life insurance, any amount paid excess of insurance claim is called___? Bonus
26. Insurance companies of BD are operated under which law? Insurance Act 2010
27. Insurance agreement under to Insurance Company is Re-insurance.

Marine & Fire:

1. Who initiated the marine insurance & when? Jewish, 1182

2. Who is the Father of Marine Insurance? Edward Lloyd
3. What is jettison? Dumping of goods from ship to the sea to lighten the ship, associated with
marine insurance
4. Marine Insurance Act 1906
5. Who is the Father of Fire Insurance? Nicholas Bourbon
6. Fire insurance was first implemented in 1609
7. ‘Fire is a good servant but a bad master’- Lord Brook.