Question

What are Double/Triple Cover Plans in insurance?

a.

Plans that offer discounted premiums for multiple policies

b.

Plans that provide coverage for two or three different types of risks

c.

Plans that offer double or triple the sum assured upon the death of the life assured during the policy term

d.

Plans that provide coverage for both life and health insurance

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (c).Plans that offer double or triple the sum assured upon the death of the life assured during the policy term Explanation:Double/Triple Cover Plans in insurance offer double or triple the sum assured upon the death of the life assured during the term of the policy, with the basic sum assured paid upon survival to the maturity date.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What are Double/Triple Cover Plans in insurance?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What is an Endowment Policy in insurance?

View solution

Q. What are Exclusions in insurance policies?

View solution

Q. What is Group Life Insurance?

View solution

Q. What are Guaranteed Policies in insurance?

View solution

Q. What is Insurable Interest in insurance?

View solution

Q. What does "Insurability" refer to in insurance terminology?

View solution

Q. How is insurance defined?

View solution

Q. Who is the "Insured" in insurance terminology?

View solution

Q. What does a Keyman Insurance Policy typically cover?

View solution

Q. What is a "Lapsed Policy"?

View solution

Q. Who is referred to as the "Life Assured" in an individual life insurance policy?

View solution

Q. What does "Maturity" refer to in the context of a life insurance policy?

View solution

Q. What is meant by a "Maturity Claim"?

View solution

Q. What is "Misrepresentation" in the context of insurance?

View solution

Q. What distinguishes a "Money Back Policy" from endowment plans?

View solution

Q. What is "Moral Hazard" in insurance?

View solution

Q. What is "Nomination" in the context of insurance?

View solution

Q. What are "Non-cancelable policies"?

View solution

Q. What is a "Premium" in insurance?

View solution

Q. What do Premium Back Term Insurance Plans provide?

View solution
View All MCQs on IC 92 Actuarial Aspects of Product Development

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!

Foundation Engineering

Master the principles of Foundation Engineering with our specialized category....

IC 14 Regulations of Insurance Business

Prepare for the IC 14 Regulations of Insurance Business exam with our focused set of...

Cytogenetics

Delve into the genetic mysteries of chromosomes with our Cytogenetics category....

Surveying

Master the art of land surveying and geomatics with our Surveying category. Explore...

Dairy Engineering

Dive into the world of Dairy Engineering with our specialized category. Explore the...

Waste Water Engineering

Navigate the challenges of wastewater treatment and management with our Waste Water...

Irrigation Engineering

Master the science of Irrigation Engineering with our dedicated category. Explore...

Corrosion Engineering

Master the art of preventing material deterioration with our Corrosion Engineering...

Basic Chemical Engineering

Get a solid foundation in Chemical Engineering with our Basic Chemical Engineering...