Question

What is the characteristic of Ulip plans?

a.

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

b.

They provide coverage for the entire lifetime of the insured

c.

They allocate premiums to different funds chosen by customers, with gains reflected in the Net Asset Value (NAV)

d.

They spread the cost of insurance cover over a longer period

Posted under IC 89 Management Accounting

Answer: (c).They allocate premiums to different funds chosen by customers, with gains reflected in the Net Asset Value (NAV) Explanation:Ulip plans allocate premiums to different funds being Equity, Income, or Balanced Funds depending on the choices of customers, and the gains in the value of these assets are reflected in the Net Asset Value (NAV) of the units.

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Q. What is the characteristic of Ulip plans?
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