Question

What is the characteristic of Term Insurance plans?

a.

They provide living benefits

b.

They cover the entire lifetime of the insured

c.

They spread the cost of insurance cover over a longer period

d.

They provide coverage only if the insured dies within a specified period

Posted under IC 89 Management Accounting

Answer: (d).They provide coverage only if the insured dies within a specified period Explanation:Insurance plans providing only death cover are called Term Insurance, and no payment is made under term insurance if the insured does not die within the specified period.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What is the characteristic of Term Insurance plans?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What is the definition of a venture capital undertaking?

View solution

Q. What is the definition of a venture capital fund?

View solution

Q. How can an AIF raise funds?

View solution

Q. What are some types or nature of AIFs?

View solution

Q. What is the definition of AIF (Alternative Investment Fund)?

View solution

Q. What types of ratios are used for evaluating the performance of mutual funds?

View solution

Q. What risk factor is associated with mutual funds and securities investments?

View solution

Q. What are some advantages of mutual funds?

View solution

Q. What is the requirement for the relationship between the fund sponsor, trustees, custodian, and Asset Management Company in a mutual fund?

View solution

Q. How have Indian mutual funds been organized?

View solution

Q. What risk factors are associated with mutual fund investments?

View solution

Q. What is the role of unit-holders in a mutual fund?

View solution

Q. What is the main purpose of a mutual fund?

View solution

Q. What distinguishes bank deposits from company deposits in terms of guarantees?

View solution

Q. Why is due diligence important for investors considering company fixed deposits?

View solution

Q. What is solvency, and how does it relate to the safety of fixed deposits?

View solution

Q. What is the significance of a company's strong financial strength and goodwill in the context of fixed deposits?

View solution

Q. What is one of the reasons why companies offer higher interest rates on their fixed deposits compared to bank fixed deposits?

View solution

Q. What option does a policyholder have when discontinuing a policy?

View solution

Q. How are discontinuance charges capped according to the new regulation?

View solution
View All MCQs on IC 89 Management Accounting

Recommended Subjects

Are you eager to expand your knowledge beyond IC 89 Management Accounting? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!

IC85 Reinsurance Management

Gear up for success in the Insurance Institute of India (III) examination with IC85...

Cost Accounting

Dive into the realm of Cost Accounting with our specialized category. Explore cost...

Bioinformatics

Unlock the power of data analysis in biology with our Bioinformatics category....

Non Verbal Reasoning

Enhance your cognitive abilities with our Non-Verbal Reasoning category. Dive into...

Cognitive Radio

Step into the dynamic world of Cognitive Radio, where wireless communication meets...

Surveying

Master the art of land surveying and geomatics with our Surveying category. Explore...

Engineering Materials

Discover the building blocks of engineering with our Engineering Materials category....

UIDAI Aadhaar Supervisor Certification

Prepare for the UIDAI Aadhaar Supervisor Certification with our specialized category....

Enzyme Technology

Unlock the power of enzymes with our Enzyme Technology category. Explore enzyme...