Q. When the sum assured is returned to the policyholder at periodic intervals, it is referred to as ____________.

View solution

Q. Life Insurance Business means ____________________________________.

View solution

Q. What do insurance contracts offer in exchange for extra premium?

View solution

Q. What guarantees do insurers offer on payment of benefits and premiums?

View solution

Q. What option do some contracts provide to policyholders?

View solution

Q. What are 'Riders' or 'Add-ons' in insurance contracts?

View solution

Q. What is the primary characteristic of an annuity product?

View solution

Q. What benefit does an Endowment Assurance contract provide?

View solution

Q. What does a term insurance policy cover?

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

Q. When are bonuses usually declared?

View solution

Q. How are vested bonuses typically paid out?

View solution

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

View solution

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

View solution