Question

What is the purpose of "Guaranteed Additions" in life insurance contracts?

a.

To provide flexibility in premium payment

b.

To offer higher surrender values to policyholders

c.

To ensure a fixed sum assured payable upon death

d.

To provide additional benefits in addition to the basic sum assured

Answer: (d).To provide additional benefits in addition to the basic sum assured Explanation:Guaranteed Additions serve the purpose of providing additional benefits in addition to the basic sum assured, typically upon death or maturity, enhancing the overall value of the policy.

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Q. What is the purpose of "Guaranteed Additions" in life insurance contracts?

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