Question

What does the policyholder have the flexibility to do once the ULIP contract is issued?

a.

Change the policy duration

b.

Increase the premium amount

c.

Decrease the level of coverage

d.

Choose the frequency of premium payment

Posted under IC 14 Regulations of Insurance Business

Answer: (b).Increase the premium amount Explanation:Once the ULIP contract is issued, the policyholder has the flexibility to contribute additional premiums (as top-up premium) if any surplus monies are available.

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Q. What does the policyholder have the flexibility to do once the ULIP contract is issued?
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