Question

Why were Universal Life and Variable Life policies discontinued in India?What makes Universal Life and Variable Life insurance policies non-traditional?

a.

Lack of popularity in the Indian marketThey have fixed premiums and death benefits

b.

High premiums and fixed death benefitsThey are not available in the United States

c.

Introduction of IRDAI (ULIP) Regulations in 2019They offer guaranteed cash value

d.

Limited investment options in these policiesThey provide flexibility in premium payments and death benefits

Answer: Introduction of IRDAI (ULIP) Regulations in 2019They provide flexibility in premium payments and death benefits Explanation:These policies were discontinued in India due to the introduction of IRDAI (ULIP) Regulations in 2019.Universal Life and Variable Life insurance policies are considered non-traditional because they offer flexibility in premium payments and death benefits.

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Q. Why were Universal Life and Variable Life policies discontinued in India?What makes Universal Life and Variable Life insurance policies non-traditional?

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