ROB Day 3 Test

When will a policy acquire minimum surrender value?

• After 1 premium

• After two premium

• After completion of premium of 2 years

• Par Plan

• Non participating plan

• ULIP

• None of the above

• Your endowment plan

• Term plan

• U l i p

• True

• False

• Live cover to stay financially prepared for uncertainty

• Assured return to fulfill his long term goals

• Tax benefits under income tax act 1961

• All of the above

• True

• False

• True

• False

The other name of terminal bonus is

• Interim bonus

• Loyalty bonus

• Reversionary bonus

According to which principle of insurance each and every material facts should be disclose by each party of the contract

• Principle of insurable interest

• Principle of utmost good faith

• Principal of indemnity

A non linked non participating plan is a

• ULIP

• Guaranteed plan

• Par plan

• Term plan