Insurance - Study Mode

[#396] Estate planning would take care of devolution of one’s estate soon after his
Correct Answer

(D) Death

Explanation

Solution: Estate planning is the preparation of tasks that serve to manage an individual's asset base in the event of their incapacitation or death. The planning includes the bequest of assets to heirs and the settlement of estate taxes.

[#397] Which of the following process does not cover Estate planning?
Correct Answer

(A) Surrender

Explanation

Solution: Surrender process does not cover Estate planning. Estate planning is the preparation of tasks that serve to manage an individual's asset base in the event of their incapacitation or death.

[#398] Endowment assurance does not possess which of the following property?
Correct Answer

(C) Survival Benefit

Explanation

Solution: Endowment assurance does not possess Survival Benefit. An endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death.

[#399] Endowment insurance is a combination of which of the following 2 features:-
Correct Answer

(D) A decreasing term insurance with increasing investment element

[#400] Which of the following statement is correct in respect of Endowment policy?
Correct Answer

(B) Shorter the policy term, larger the investment element

Explanation

Solution: Shorter the policy term, larger the investment element is correct in respect of Endowment policy.