Question
a.
An annuity payable for a fixed number of years, whichever is shorter
b.
An annuity payable for life or for a fixed number of years, whichever is longer
c.
An annuity payable until the death of the policyholder
d.
An annuity payable until the death of the second person in a couple
Posted under IC 92 Actuarial Aspects of Product Development
Interact with the Community - Share Your Thoughts
Uncertain About the Answer? Seek Clarification Here.
Understand the Explanation? Include it Here.
Q. What is an annuity-certain policy?
Similar Questions
Explore Relevant Multiple Choice Questions (MCQs)
Q. What is a Last Survivor Annuity?
View solution
Q. What is the primary characteristic of term insurance contracts?
View solution
Q. Which type of insurance contract allows the policyholder to pay premiums until a certain age, after which the cover continues until death without further premium payments?
View solution
Q. What is the distinguishing feature of a decreasing annuity contract?
View solution
Q. What type of annuity ensures payments as long as both annuitants are alive and ceases upon the death of either?
View solution
Q. Which type of annuity allows the policyholder to choose between a lump sum payment or an immediate annuity at the vesting date?
View solution
Q. What is the primary characteristic of a Term Assurance contract?
View solution
Q. Which type of insurance contract offers a lump-sum payment upon the diagnosis of critical illnesses?
View solution
Q. In a Deferred Annuity with Life Cover, what happens if the policyholder dies during the deferment period?
View solution
Q. What distinguishes an Immediate Annuity in arrears from an Immediate Annuity due?
View solution
Q. What is a characteristic feature of Increasing Immediate Annuity contracts?
View solution
Q. What are riders in insurance contracts primarily designed for?
View solution
Q. When does the option to include a rider become valid?
View solution
Q. What event triggers the benefits provided by the Permanent Disability Rider?
View solution
Q. What is the primary purpose of the Term Rider?
View solution
Q. What condition must be met for the Accident Benefit Rider to pay out its benefits?
View solution
Q. What event triggers the benefits provided by the Critical Illness Rider?
View solution
Q. What is the primary benefit of the Waiver of Premium Rider?
View solution
Q. According to IRDAI regulations, what is the maximum percentage of the Basic Life Insurance premium that can be allocated to riders?
View solution
Q. What is the limit for the Rider Sum Assured in relation to the Sum Assured of Basic Life Insurance Benefit?
View solution
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!
