Question

What type of insurance product is recommended for borrowers?

a.

Term Insurance

b.

Endowment Assurances

c.

Money Back Plans

d.

Immediate Annuity Contracts

Answer: (a).Term Insurance Explanation:Borrowers are recommended to opt for Term Insurance or Decreasing Term Insurance (Mortgage insurance policies) to provide security for the outstanding loan in case of death or permanent disability.

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Q. What type of insurance product is recommended for borrowers?

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