Question

How can profitability of a life insurance product be broken down at a general level?

a.

Into risk management, marketing, and administration

b.

Into savings, protection, and administration

c.

Into premium collection, claims settlement, and customer service

d.

Into underwriting, investment management, and distribution

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (b).Into savings, protection, and administration Explanation:At a general level, the profitability of a life insurance product can be broken down into savings, protection, and administration components, highlighting the key aspects of the product's financial performance.

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Q. How can profitability of a life insurance product be broken down at a general level?
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