Question

What is the minimum policy term for ULIP products?

a.

1 year

b.

3 years

c.

5 years

d.

10 years

Answer: (c).5 years Explanation:The minimum policy term for ULIP products is 5 years.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What is the minimum policy term for ULIP products?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What is the difference between the NAV at the time of entry and exit called?

Q. During which period are no residuary payments made on lapsed/surrendered/discontinued ULIP policies?

Q. What do top-up premiums allow ULIP policyholders to do?

Q. What are the three stages of money laundering?

Q. What is the purpose of the Financial Action Task Force (FATF)?

Q. What is the primary aim of the KYC process?

Q. Who bears the responsibility for implementing a robust program against money laundering and terrorist financing in insurance companies?

Q. How long are records of transactions reported to the Financial Intelligence Unit (FIU) required to be retained?

Q. What is the general trend of insurance premium with respect to risk?

Q. What do the IRDA (Manner of receipt of premium) Regulations prescribe?

Q. When does the insurer assume risk according to Section 64VB of the Insurance Act 1938?

Q. What happens to a general insurance policy if the remittance made by the proposer or policyholder is not realized by the insurer?

Q. What determines the continuance of risk in a life insurance policy?

Q. Under what circumstances do insurers not have 'non-receipt of premium or non-realization of cheque' as a defence against payment of compensation to the third party?

Q. What provision allows relaxation to the provisions of section 64 VB (I) for certain categories of insurance?

Q. What term is related to insurance characterized by low premium and designed to serve low-income group people?

Q. In which country did the concept of micro-insurance originate?

Q. What is the maximum remuneration limit for a micro insurance agent for non-life insurance business?

Q. Unit Linked Insurance Plans (ULIPs) are _______-linked insurance plans.

Q. Where data for the performance of a fund of the ULIP is not available for at least one calendar year, past performance _________________.

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!