Question

What are limited premium payment products?

a.

Products with limited coverage duration

b.

Products with limited benefits

c.

Products with limited premium payment period compared to the policy term

d.

Products with limited eligibility criteria

Answer: (c).Products with limited premium payment period compared to the policy term Explanation:Limited premium payment products refer to non-linked insurance products where the premium payment period is limited/shorter compared to the policy term and are paid at regular intervals like yearly, half-yearly, etc.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What are limited premium payment products?

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!