Question

What is the primary benefit offered by Unit-Linked Insurance Plans (ULIPs)?

a.

Guaranteed investment returns

b.

Only insurance coverage

c.

Combined benefit of insurance and investment

d.

Free insurance for a lifetime

Answer: (c).Combined benefit of insurance and investment Explanation:ULIPs provide a combination of insurance and investment, allowing policyholders to choose investment funds while also obtaining insurance coverage.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What is the primary benefit offered by Unit-Linked Insurance Plans (ULIPs)?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What is the mortality charge associated with ULIPs?

Q. In the context of insurance, what is the 'cashback' offer usually based on?

Q. Why should one be cautious about accepting a cashback offer from an insurance agent?

Q. What do IRDA's regulations for intermediaries primarily address in the insurance sector?

Q. What is the primary function of a Direct Insurance Broker according to IRDA regulations?

Q. What does a Reinsurance Broker specialize in according to IRDA regulations?

Q. How is a Composite Broker defined in IRDA regulations?

Q. What is the distinguishing feature of a Corporate Agent?

Q. What is the scope of a Composite Corporate Agent's licence?

Q. What entities are eligible to obtain an Insurance Broker license according to IRDA regulations?

Q. What types of entities can be appointed as Corporate Agents according to IRDA regulations?

Q. What are the minimum qualification requirements for Agents based on the population of the area where the applicant resides?

Q. What are the permissible types of entities recognized by the Authority to act as Insurance Brokers?

Q. Which organizations are eligible to be appointed as Corporate Agents according to IRDA regulations?

Q. In what circumstances is a minimum qualification of 10th standard required for Agents?

Q. Can an individual be granted an Insurance Broker license according to IRDA regulations?

Q. Who has the authority for issuing licenses to Insurance Brokers according to regulations?

Q. How are licenses for Corporate Agents issued and renewed?

Q. Who is authorized to issue and renew licenses for Agents?

Q. What qualifications are required for the Principal Officer of an Insurance Broker?

Recommended Subjects

Are you eager to expand your knowledge beyond IC 14 Regulations of Insurance Business? 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!