Question

What is the primary purpose of Pure endowment contracts?

a.

To provide death benefits only

b.

To provide survival benefits only

c.

To satisfy the investment need of the policyholder

d.

To offer increasing insurance cover over time

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (c).To satisfy the investment need of the policyholder Explanation:The primary purpose of Pure endowment contracts is to satisfy the investment need of the policyholder.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What is the primary purpose of Pure endowment contracts?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What is the key feature of Double endowment insurance?

View solution

Q. What type of insurance provides a death benefit equal to twice the survival benefit during the contract period?

View solution

Q. What are With-profit contracts?

View solution

Q. What is the key feature of Convertible term assurance?

View solution

Q. What is the primary purpose of Critical Illness Assurance?

View solution

Q. What is the purpose of the survival period in Critical Illness Assurance?

View solution

Q. Which of the following is NOT typically covered under Critical Illness Assurance?

View solution

Q. How are alternative forms of Critical Illness Assurance different from traditional policies?

View solution

Q. What is the benefit of Critical Illness Assurance policies paying hospitals directly?

View solution

Q. What is Deferred Whole Life Assurance?

View solution

Q. What distinguishes Temporary Term Assurance from other types of term assurance?

View solution

Q. What is the unique feature of Term Assurance with Return of Premium?

View solution

Q. What is the characteristic of Decreasing Term Assurance?

View solution

Q. What is the primary purpose of Pure Term Assurance?

View solution

Q. What is the distinguishing feature of Increasing Term Assurance?

View solution

Q. What is the primary benefit of Whole Life Assurance?

View solution

Q. What distinguishes Double Endowment from Endowment Assurance?

View solution

Q. What is the primary characteristic of Pure Endowment?

View solution

Q. Which type of assurance provides benefit payment on death during the specified policy term and on survival at the date of maturity?

View solution

Q. What term is used to refer to the fixed benefit amount in insurance contracts?

View solution
View All MCQs on IC 92 Actuarial Aspects of Product Development

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!

Electronics and Communication Engineering

Explore the dynamic field of Electronics and Communication Engineering with our...

Cell Biology

Delve into the fascinating world of Cell Biology with our specialized category....

Drug and Pharmaceutical Biotechnology

Navigate the world of pharmaceuticals and biotechnology with our dedicated category....

IC90 Human Resource Management

Prepare for success in the Insurance Institute of India (III) examination with IC90...

Foundation Engineering

Master the principles of Foundation Engineering with our specialized category....

Automotive Engine Design

Embark on a thrilling exploration of Automotive Engine Design, where the intricacies...

Bioinformatics

Unlock the power of data analysis in biology with our Bioinformatics category....

Cost Accounting

Dive into the realm of Cost Accounting with our specialized category. Explore cost...

Concrete Technology

Welcome to Concrete Technology, a category that unravels the secrets behind the...