Q. Which method of bonus calculation is based on a fixed percentage of the sum assured or premiums?

View solution

Q. How is compound bonus calculated?

View solution

Q. What distinguishes cash bonus from other methods of bonus payment?

View solution

Q. What is the key characteristic of paid-up additions as a method of bonus payment?

View solution

Q. What distinguishes the discount in premium method from the cash bonus method?

View solution

Q. What is the key characteristic of future bonuses in insurance contracts?

View solution

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

View solution

Q. How are future bonuses typically related to the current year's bonus?

View solution

Q. What is the main difference between participating and non-participating insurance contracts in terms of premiums?

View solution

Q. Which condition must be met for a policy to be eligible for receiving bonuses?

View solution

Q. Under what circumstance would the condition of keeping the policy in force for a certain period not apply?

View solution

Q. How are vested bonuses typically paid out?

View solution

Q. When are bonuses usually declared?

View solution

Q. What is the guarantee regarding future bonuses in insurance policies?

View solution

Q. What distinguishes unit linked contracts from traditional insurance contracts?

View solution

Q. Which account in a unit linked contract belongs to the policyholder?

View solution

Q. What is the portion of the premium allocated to the unit account referred to as?

View solution

Q. Which expenses are met from the non-unit accounts in unit linked contracts?

View solution

Q. When are surrenders typically allowed in unit linked contracts as per current regulations?

View solution

Q. Which statement accurately describes the purpose of insurance and annuity products?

View solution