Question

Given below are some versions of traditional whole life insurance plans. Identify the odd one out.

a.

Non-Participating Whole life

b.

Econometric Whole life

c.

Universal Life

d.

Limited Payment Whole Life

Posted under IC 89 Management Accounting

Answer: (c).Universal Life Explanation:Universal life insurance is a different category than traditional whole life insurance. It is a type of permanent life insurance that combines a death benefit with a savings component. Policyholders have flexibility in premium payments and death benefit amounts.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. Given below are some versions of traditional whole life insurance plans. Identify the odd one out.
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. Which of the following is / are specifically excluded from the purview of the AIF Regulations?

View solution

Q. ___________ is the ratio of the risk premium to the variability of returns (standard deviation of returns).

View solution

Q. How are Company Fixed Deposits different from Bank Fixed Deposits?

View solution

Q. What is the characteristic of Ulip plans?

View solution

Q. How is the Gratuity Insurance Plan described?

View solution

Q. How is Group Insurance defined?

View solution

Q. What is the primary purpose of an endowment life insurance policy?

View solution

Q. What is the purpose of Whole Life insurance policies?

View solution

Q. What is the characteristic of Term Insurance plans?

View solution

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
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!

Avionics Engineering

Soar into the world of aviation technology with our Avionics Engineering category....

IC38 Life Insurance Agent Exam

Prepare for success in the Insurance Institute of India (III) IC38 IRDA examination...

Foundation Engineering

Master the principles of Foundation Engineering with our specialized category....

Sociology

Gain insights into human behavior and society with our Sociology category. Explore...

Mechanical Engineering

Explore the world of Mechanical Engineering with our specialized category. Dive into...

IC 89 Management Accounting

Boost your preparation for the IC 89 Management Accounting exam with our extensive...

Dairy Engineering

Dive into the world of Dairy Engineering with our specialized category. Explore the...

Cost Accounting

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

IC 92 Actuarial Aspects of Product Development

Sharpen your understanding of actuarial principles in product development with our...