Question

How is the premium paid in a Term insurance policy?

a.

Only as a single premium

b.

Only on a yearly basis

c.

Both year on year or as a single premium

d.

Only on a monthly basis

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (c).Both year on year or as a single premium Explanation:The premium in a Term insurance policy can be paid both year on year or as a single premium.

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