What is the primary purpose of a life insurance product?

A Tax rebates
B Safe investment avenue
C Protection against the loss of economic value of an individual’s productive abilities
D Wealth accumulation

Correct Answer: Protection against the loss of economic value of an individual’s productive abilities

Protection against the loss of economic value of an individual’s productive abilities is the primary purpose of a life insurance product. The primary purpose for purchasing life insurance is to provide financial stability to beneficiaries in the event of the insured's death.
Bissoy MCQ
#Commerce #Insurance

Related Questions

According to a survey of business firms in a certain city, 750 firms offer their employees health insurance , 640 offer dental insurance and 280 offer health insurance and dental insurance. How many firms offer their employees health insurance or dental
A 920
B 1,100
C 1,110
D 1,030
Scheme-1: C6H5N2Cl→CuCNC6H5CN→H2o/H+C6H5COOH→∆Product-I Scheme-2: C6H5NO2→Fe/HCLC6H5NH2→N2NO3+HCL, 273KC6H5N2Cl→H2O/H+Product-II Scheme-3: CH3COOH→NH3CH3CONH2→NaOBrProduct-III উল্লিখিত Scheme সমূহে Product-I, Product-II এবং Product-III হলো যথাক্রমেঃ
A C6H5COONH4, C6H5Cl and CH3OH
B C6H5CONH2, C6H5NH2 and CH3OH
C C6H5CONH2, C6H5NH2 and CH3NH2
D C6H5CONH2, C6H5OH and CH3OH
Apart from the salary level, what another key feature of Alok’s job is likely to have a major impact on the level of his pension, life insurance, and health insurance needs?
A Whether the job is office or field-based
B The normal retirement age in relation to the job
C Whether the job is in the public or private sector
D Whether the job is manual or non-manual
What is the essential purpose of Life Insurance?
A It is tax rebates
B It is a good investment
C It is protection for loss of economic value of human life in the event of death or disability
D It leads to wealth accumulation
A manufacturer sells three products i.e. A, B and C. Product A cost 200 and sells for 250, Product B costs 150 and sells for 180, Product C costs 100 and sells for 110. On which product, he has maximum percentage of profit?
A B only
B A and B both
C A only
D C only
A manufacturer sells three products i.e A, B C. Product A costs 200 and sells for 250, product B costs 150 and sells for 180, Product C cost 100 and sells for 110. On which product, he has maximum percentage of profit?
A B only
B A and B both
C A only
D C only
A manufacturer sells three products i.e A, B and C . Product A costs 200 and sells for 250, Product B costs 150 and sells for 180 , product C costs 100 adn sells for 110. On which product, he has maximum percentage of profit?
A B only
B A and B both
C A only
D C only
A manufacturer sells three products i.e A, B C. Product A costs 200 and sells for 250, product 150 and sells for 180, Product C cost 100 and sells for 110. On which product, he has maximum percentage of profit?
A B only
B A and B both
C A only
D C only
A manufacturer sells three products i.e A, B and C. Product A costs 200 and sells for 250, Product b costs 150 and sells for 180, product C costs 100 and sells for 110. On which product, he has maximum percentage of profit?
A B only
B A and both
C A only
D C only
Which of these is not a product of life insurance?
A Whole life
B Term
C Life annuity
D Car Insurance

Next steps