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.

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