Question

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

a.

Providing insurance coverage for legal expenses

b.

Providing insurance coverage for travel expenses

c.

Granting superannuation allowances and annuities

d.

Granting insurance coverage for property damage

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (c).Granting superannuation allowances and annuities Explanation:'Life Insurance Business' includes granting superannuation allowances and annuities payable out of any fund applicable solely to the relief and maintenance of persons engaged in any particular profession, trade or employment or of the dependents of such persons.

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