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    IC 38 Short Notes (2) 33

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    Anil Kumar

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    IC 38 Short Notes (2) 33

    Uploaded by

    Anil Kumar
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    IC-38-Short-notes(2)-33

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    2 views1 page

    IC 38 Short Notes (2) 33

    Uploaded by

    Anil Kumar

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    © All Rights Reserved
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    P a g e | 33

    II. Safe investment avenue


    III. Protection against the loss of economic value of an individual‟s productive abilities
    IV. Wealth accumulation
    7.Who among the following is best advised to purchase a term plan?
    I. An individual who needs money at the end of insurance term
    II. An individual who needs insurance and has a high budget
    III. An individual who needs insurance but has a low budget
    IV. An individual who needs an insurance product that gives high returns
    8.Which of the below statement is incorrect with regards to decreasing term assurance?
    I. Death benefit amount decreases with the term of coverage
    II. Premium amount decreases with the term of coverage
    III. Premium remains level throughout the term
    IV. Mortgage redemption plans are an example of decreasing term assurance plans
    9.Which of the below statement is correct with regards to endowment assurance plan?
    I. It has a death benefit component only
    II. It has a survival benefit component only
    III. It has both a death benefit as well as a survival component
    IV. It is similar to a term plan
    10.Which of the below is an example of an endowment assurance plan?
    I. Mortgage Redemption Plan
    II. Credit Life Insurance Plan
    III. Money Back Plan
    IV. Whole Life Plan

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