Question

What distinguishes Money back insurance from other types of endowment policies?

a.

It offers a death benefit only

b.

It provides a lump sum payment at maturity

c.

It offers survival benefits at fixed dates during the contract period

d.

It is commonly issued as a unit linked contract

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (c).It offers survival benefits at fixed dates during the contract period Explanation:Money back insurance offers survival benefits at fixed dates during the contract period, in addition to the death benefit.

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Q. What distinguishes Money back insurance from other types of endowment policies?
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