Question
a.
Indicate only the protection-oriented aspects
b.
Clearly indicate whether the product is protection-oriented, savings-oriented, or a combination
c.
Mention only the percentage return of premiums paid
d.
Offer a meager amount in excess of return of premiums paid
Posted under IC 92 Actuarial Aspects of Product Development
Interact with the Community - Share Your Thoughts
Uncertain About the Answer? Seek Clarification Here.
Understand the Explanation? Include it Here.
Q. According to the regulations, how should the maturity benefits be indicated in product literature?
Similar Questions
Explore Relevant Multiple Choice Questions (MCQs)
Q. What does the asset share represent for life insurance policies?
View solution
Q. What is considered an innovative product according to the regulations?
View solution
Q. What is a key consideration for the innovativeness of a product design?
View solution
Q. What should an insurer provide when discussing the product design concept of a proposed innovative product with the Authority?
View solution
Q. What should an insurer consider regarding similar products available in other markets?
View solution
Q. What is the revival period for a discontinued policy due to non-payment of premium?
View solution
Q. What does the lock-in period refer to?
View solution
Q. How should charges be structured in linked insurance products during the lock-in period?
View solution
Q. What is the Premium Allocation Charge in linked insurance products?
View solution
Q. How is the Fund Management Charge (FMC) calculated in unit linked products?
View solution
Q. What does the Guarantee Charge represent in unit linked products?
View solution
Q. What does the Policy Administration Charge represent?
View solution
Q. When is the Surrender Charge or Discontinuance charge levied?
View solution
Q. What is the Switching Charge in unit linked products?
View solution
Q. What does the Mortality/Morbidity charge represent?
View solution
Q. What should the mortality/morbidity charge table reflect?
View solution
Q. What is the purpose of the Rider charge?
View solution
Q. What should the rider charge reflect?
View solution
Q. When is the Partial withdrawal charge levied?
View solution
Q. When is the Miscellaneous charge levied?
View solution
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!
