Related Questions

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%
Which of the following are products and services bought by final consumers for personal consumption? These include convenience products, shopping products, specialty products, and unsought products.
A Material and parts
B Consumer products
C Industrial products
D Capital items
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
Universal Life plans provide for which of the following facility?
A Payment of additional premiums over and above the target amount
B Skipping of premiums
C Both A & B
D None of the above
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.
_________ consists of collecting premiums from numerous individuals to compensate the few who may suffer losses.
A Pooling
B Contract
C Guarantee
D IRDA
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
Which of the below is not a component of ULIP premiums?
A Policy allocation charge
B Investment risk premium
C Mortality charge
D Social security charge
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
Which of the following property specifies the order of a flexible item relative to the rest of the flexible items inside the same container?
A sort
B layout
C order
D asort

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