1. Correlation of life insurance products with bonds
  2. Correlation of life insurance products with equities
  3. Amalgamation of protection and savings element
  4. Separation of the protection and savings element
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Answer: Option 4

Unbundling of life insurance products refers to separation of the protection and savings element. A unbundled life insurance policy contains a savings and investment component that the policyholder can use during his or her lifetime or pass on to beneficiaries.

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