Question

What does a Unit represent in a Unit Linked Insurance Policy (ULIP)?

a.

A component of the fund in a ULIP

b.

A measure of the policyholder's life cover

c.

A fixed premium amount in a ULIP

d.

A regulatory body overseeing ULIP operations

Answer: (a).A component of the fund in a ULIP Explanation:In a ULIP, a Unit is a component of the fund, and the policyholder's investment in the fund is denoted in the form of units.

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Q. What does a Unit represent in a Unit Linked Insurance Policy (ULIP)?

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