Question

What change has been made regarding additional payments in ULIPs?

a.

Additional payments are no longer accepted.

b.

Additional payments are treated as regular premiums.

c.

Additional payments are treated as single premiums for the purpose of insurance cover.

d.

Additional payments have no impact on the insurance cover.

Posted under IC 89 Management Accounting

Answer: (c).Additional payments are treated as single premiums for the purpose of insurance cover. Explanation:Any additional payment shall be treated as a single premium for the purpose of insurance cover.

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Q. What change has been made regarding additional payments in ULIPs?
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