Question

How do insurers address other financial needs?

a.

By providing immediate monetary benefits upon the occurrence of specific events

b.

By offering survival benefits and partial withdrawals/surrenders during the contract period

c.

By covering all financial needs through comprehensive insurance policies

d.

By reimbursing all medical and funeral expenses directly to the insured

Answer: (b).By offering survival benefits and partial withdrawals/surrenders during the contract period Explanation:Insurers address other financial needs by offering survival benefits and partial withdrawals/surrenders during the contract period. These provisions provide liquidity to the customer at certain intervals, allowing them to meet various needs such as education expenses, marriage costs, or the purchase of capital items needed for the family.

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Q. How do insurers address other financial needs?

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