Q. Which type of annuity allows the policyholder to choose between a lump sum payment or an immediate annuity at the vesting date?

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Q. What is the primary characteristic of a Term Assurance contract?

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Q. Which type of insurance contract offers a lump-sum payment upon the diagnosis of critical illnesses?

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Q. In a Deferred Annuity with Life Cover, what happens if the policyholder dies during the deferment period?

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Q. What distinguishes an Immediate Annuity in arrears from an Immediate Annuity due?

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Q. What is a characteristic feature of Increasing Immediate Annuity contracts?

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Q. What are riders in insurance contracts primarily designed for?

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Q. When does the option to include a rider become valid?

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Q. What event triggers the benefits provided by the Permanent Disability Rider?

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Q. What is the primary purpose of the Term Rider?

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Q. What condition must be met for the Accident Benefit Rider to pay out its benefits?

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Q. What event triggers the benefits provided by the Critical Illness Rider?

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Q. What is the primary benefit of the Waiver of Premium Rider?

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Q. According to IRDAI regulations, what is the maximum percentage of the Basic Life Insurance premium that can be allocated to riders?

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Q. What is the limit for the Rider Sum Assured in relation to the Sum Assured of Basic Life Insurance Benefit?

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Q. Which type of insurance riders are exempt from the 30% limit on rider premium allocation?

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Q. What is the primary purpose of options offered in insurance contracts?

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Q. Which of the following options allows policyholders to increase their insurance cover without undergoing a medical examination?

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Q. What does the paid-up option in insurance contracts entail?

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Q. What alteration option involves changing the ownership of the policy?

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