What is the essential purpose of Life Insurance? – McqOptions

MCQOPTIONS

1.	What is the essential purpose of Life Insurance?
A.	t is tax rebates
B.	t is a good investment
C.	t is protection for loss of economic value of human life in the event of death or disability
D.	t leads to wealth accumulation
Answer» D. t leads to wealth accumulation

Discussion

No Comment Found

Related MCQs

The limit of the National Consumer Disputes Commission is
While prospecting for selling insurance, approaching the members of a caste or community association will be classified under which of the following?
While distributing surplus, care has to be taken for
Which of the following is not a phase in retirement planning?
Which actuarial aspect(s) are taken into account while fixing the premium?I. MortalityII. Interest assumptionIII. Office expenses
A policy can be surrendered only if it has acquired
Which of the following statements are correct?i. The sum assured under group insurance is not fixed by the individual member.ii. A person whose proposal is declined under individual scheme can get insurance under group policy.
In group insurance, risk of individuals is not assessed.
Section 45 of Insurance Act, 1938 speaks about rejecting a claim after _________ of taking a policy.
In a money back plan, what is the maturity claim payable?