Q. What does the term 'linked business' mean in the context of life insurance?

View solution

Q. What does 'Life Insurance Business' include according to insurance legislation?

View solution

Q. Which of the following is deemed to be included in 'Life Insurance Business' according to insurance legislation?

View solution

Q. What is the definition of 'Long Term Insurance Business' in some countries?

View solution

Q. Which subclass of 'Long Term Business' typically offers protection against the loss of income if the insured passes away?

View solution

Q. What distinguishes Unit Linked Contracts from traditional life insurance products?

View solution

Q. What type of contracts are categorized under 'Permanent health' subclass of long term business?

View solution

Q. Which subclass of 'Long Term Business' offers benefits that increase with respect to an inflation index or a constant inflation value?

View solution

Q. What distinguishes Participative (with profit) Basis contracts from Non-Participative (without profit) Basis contracts?

View solution

Q. What is the percentage of surplus typically allocated to policyholders in Participative (with profit) Basis contracts in India?

View solution

Q. Which type of contracts are issued on both Participative (with profit) Basis and Non-Participative (without profit) Basis?

View solution

Q. What are the additional benefits provided in Participative (with profit) Basis contracts?

View solution

Q. Why is it important for insurers to comply with local laws while designing insurance products?

View solution

Q. What is the primary benefit provided by a Term insurance policy?

View solution

Q. What happens if the insured survives the term of the contract in a Term insurance policy?

View solution

Q. What is the purpose of a Term insurance policy?

View solution

Q. How is the premium paid in a Term insurance policy?

View solution

Q. What type of contracts fall under Pure Death benefit contracts?

View solution

Q. What is a characteristic feature of Term insurance contracts?

View solution

Q. Which type of insurance contract provides cover throughout the policyholder's life?

View solution