Question

When are bonuses with respect to par products declared?

a.

Immediately after the policy is issued

b.

At the time of maturity of the policy

c.

Once a year after the annual actuarial valuation

d.

Biannually

Answer: (c).Once a year after the annual actuarial valuation Explanation:Bonuses with respect to par products are declared once a year immediately after the annual actuarial valuation.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. When are bonuses with respect to par products declared?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What does the policy account value represent in a variable non-linked insurance policy?

Q. How often is the shadow policy account value maintained?

Q. What does the shadow policy account value computation involve?

Q. What is the purpose of maintaining the policy account value?

Q. What is the minimum death benefit requirement for non-linked individual life insurance products?

Q. What is the minimum death benefit requirement for other than single premium products?

Q. When is the provision for minimum sum assured on death not applicable?

Q. How is the minimum sum assured calculated for linked insurance products?

Q. How is the policy term (T) determined for whole life products?

Q. What is the minimum policy term stipulated by regulations for individual products?

Q. What is the minimum premium payment term for individual products, except for single premium payment products?

Q. What is the maximum commission or remuneration for brokers during the first year for policies with a premium paying term of 12 and above during the first ten years of a life insurer's business?

Q. What is the maximum commission or remuneration for brokers in the subsequent years for all premium paying terms during the first ten years of a life insurer's business?

Q. What is the maximum commission or remuneration for pension products in case of single premium payment?

Q. What is the maximum commission or remuneration for pension products in case of other than single premium payment?

Q. What is the maximum commission or remuneration for fund-based group products with respect to all premium payment modes, except direct marketing, during the first year?

Q. In which scenario is no commission payable?

Q. What is the higher surrender value considered in most cases, according to the regulation?

Q. When does a policy acquire a guaranteed surrender value for products with a Premium Paying Term (PPT) of 10 years or more?

Q. Which products acquire a guaranteed surrender value after at least two consecutive years of premium payment?

Recommended Subjects

Are you eager to expand your knowledge beyond IC 92 Actuarial Aspects of Product Development? 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!