Question

What are Guaranteed Policies in insurance?

a.

Policies with flexible premium payment options

b.

Policies with variable payouts

c.

Policies where the payment amount remains fixed

d.

Policies with no maturity benefits

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (c).Policies where the payment amount remains fixed Explanation:Guaranteed Policies are insurance policies where the payment amount remains fixed, providing certainty to the policyholder.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What are Guaranteed Policies in insurance?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

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

Q. Who is considered a "Sub Standard Risk" in insurance?

View solution

Q. What does "Vesting Age" signify in an insurance-cum-pension plan?

View solution

Q. What is a "With-Profit policy" in life insurance?

View solution

Q. What is a "Without-Profit policy" in life insurance?

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!

IC 89 Management Accounting

Boost your preparation for the IC 89 Management Accounting exam with our extensive...

Fluid Mechanics

Unlock the mysteries of fluids and their behavior with our Fluid Mechanics category....

Highway Engineering

Navigate the road to efficient transportation with our Highway Engineering category....

Environmental Engineering

Explore the critical field of Environmental Engineering with our dedicated category....

Foundation Engineering

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

Optical Communication

Explore the world of high-speed data transmission with our Optical Communication...

DC Machines

Dive into the fundamentals of direct current (DC) machines with our specialized...

Environmental Biotechnology

Discover the intersection of biology and environmental science with our Environmental...

Biochemistry

Delve into the intricate world of Biochemistry with our Biochemistry category....