Insurance - Study Mode

[#446] Inter temporal allocation of resources means allocation of resources across _________
Correct Answer

(D) Time

Explanation

Solution: Inter temporal allocation of resources means allocation of resources across Time. Intertemporal choice is an economic term describing how an individual's current decisions affect what options become available in the future. Theoretically, by not consuming today, consumption levels could increase significantly in the future, and vice versa.

[#447] In respect of Traditional cash value plans, which is incorrect:-
Correct Answer

(C) Cash value component is well defined

Explanation

Solution: In respect of Traditional cash value plans, Cash value component is not well defined. Cash value life insurance is a form of permanent life insurance that features a cash value savings component.

[#448] Non-traditional products are also known as
Correct Answer

(A) Unbundled plans

Explanation

Solution: Non-traditional products are also known as Unbundled plans. An unbundled life insurance policy is a type of financial protection plan that provides cash to beneficiaries upon the policyholder's death.

[#449] The major appeal for non-traditional products was in terms of
Correct Answer

(D) All of the above

Explanation

Solution: The major appeal for non-traditional products was in terms of Inflation beating returns, Direct linkage with investment gains and Flexibility & Higher surrender value.

[#450] Which was the major motive for people going for nontraditional products?
Correct Answer

(D) All of the above

Explanation

Solution: The major motive for people going for nontraditional products are Flexibility, Wealth accumulation and Transparency.