Question

What do Premium Back Term Insurance Plans provide?

a.

Refund of a portion of the premiums paid upon policy maturity

b.

Refund of all the premiums paid if the life assured dies during the policy term

c.

Partial refund of premiums if the policyholder surrenders the policy

d.

Refund of all the premiums paid if the life assured survives to the end of the policy term

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (d).Refund of all the premiums paid if the life assured survives to the end of the policy term Explanation:Premium Back Term Insurance Plans offer a refund of all the premiums paid if the life assured survives to the end of the policy term. In case of the death of the life assured during the policy term, the total sum assured is paid to the beneficiaries.

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Q. What do Premium Back Term Insurance Plans provide?
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