Question
a.
Continuing life coverage until age 60 without premium payment for disabled employees.
b.
Pre-paying a percentage of the life benefit over a period for permanently disabled employees.
c.
Providing one year of continued life coverage if insurance terminates prior to retirement age for disabled employees.
d.
Offering disability provisions for all employees regardless of their circumstances.
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. Which approach provides extended death benefit coverage for employees who become totally disabled prior to retirement age?
Similar Questions
Explore Relevant Multiple Choice Questions (MCQs)
Q. What is typically required for continued waiver of premium in group insurance schemes?
View solution
Q. How does a new group term plan come into existence?
View solution
Q. Which of the following is NOT typically included in the general description of a group insurance product?
View solution
Q. Which of the following is a requirement specified in the Form IRDA-Life-Non Linked-NP for insurers to file a group term product to IRDA of India?
View solution
Q. What aspect of group insurance product design helps avoid anti-selection by individuals within a group?
View solution
Q. What information is typically required to be provided under the heading "Reinsurance" when filing a group term product with IRDA of India?
View solution
Q. Which of the following parameters is typically included in the financial projections section when filing a group term product with IRDA of India?
View solution
Q. Which of the following statements regarding the submission of policy terms and conditions to IRDA of India is accurate?
View solution
Q. What types of occupations are typically included in Class 1 of the occupation classification?
View solution
Q. Which occupation class may include skilled craftsmen and tradesmen whose duties involve only light manual work?
View solution
Q. Which occupation class may include auto and auto-related manufacturing, assembly, service and repair workers, along with farmers and long and short haul truck drivers?
View solution
Q. How is the pure risk premium calculated for a group?
View solution
Q. What does the gross premium include?
View solution
Q. How are expenses handled in the calculation of gross premium for group insurance?
View solution
Q. What is the first step in premium calculations?
View solution
Q. How is the gross premium calculated?
View solution
Q. Which of the following is NOT considered when handling expenses for group insurance?
View solution
Q. How might expenses be expressed in group insurance?
View solution
Q. In what way do expense loadings typically vary with group size?
View solution
Q. What might a new insurance company do with a large part of its expenses?
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!
