Question

What are single premium products?

a.

Products with irregular premium payment intervals

b.

Products with limited premium payment period

c.

Products with premium payment throughout the term at regular intervals

d.

Products with premium paid by a single payment at the inception of the policy

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (d).Products with premium paid by a single payment at the inception of the policy Explanation:Single premium products refer to non-linked insurance products where the premium payment is made by a single payment at the inception of the policy.

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