Related Questions

Which of the below statement is true regarding ULIP’s?
A Value of the units is determined by a formula fixed in advance
B Investment risk is borne by the insurer
C ULIP’s are opaque with regards to their term, expenses and savings components
D ULIP’s are bundled products
Which of the following is NOT true regarding ULIP?
A A unit holder can choose between different kinds of funds
B Life insurer provides guarantee for unit values
C Units may be purchased by payment of a single premium or by regular premium payments
D ULIP policy structure is transparent with regards to the insurance expenses component
What are the charges in a ULIP?
A Policy Allocation Charge
B Mortality charge
C Both A & B
D None of the above
If both policy loan and premiums are not paid, the outstanding loan/interest may exceed the policy’s cash value. What would the insurer do in such an eventuality?
A Surrender
B Revival
C Cancellation
D Foreclosure
In 1997, 10% of automobile insurance premiums went to pay costs arising from injuries occurred in car accidents, In 2007, cost despite the fact that cars were much safer in 2007 than in 1997 . which of the following . if true, best explains the discrepancy outlined above?
A Fewer accidents occured in 2007 than in 1997.
B In 2007, people drove more slowly than in 1997.
C Medical costs rose sharply between 1997 and 2007 .
D Repairing costs of cars grew more over the period.
Which of the following policies is suitable for a person who cannot temporarily afford to pay high premiums?
A Convertible Endowment
B Convertible Money Back
C Convertible ULIP
D Convertible Whole Life
In Variable life insurance, the death benefit and cash value of the policy _________ according to the investment performance of a special investment account into which premiums are credited.
A Went up
B Went down
C Remain Fixed
D Fluctuate
Where annually increasing flexible premiums operate under a life insurance policy, what rate of increase will generally apply?
A 2.50%
B 3.00%
C 5.00%
D 7.50%
_________ consists of collecting premiums from numerous individuals to compensate the few who may suffer losses.
A Pooling
B Contract
C Guarantee
D IRDA
Under Universal life products, there was facility of completely flexible premiums after how many years?
A One
B Two
C Three
D Four

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