Mr. Ajit Paswan has recently purchased a life insurance plan. In this plan type the life insurance company invests mostly in debt instruments. He will receive life cover and maturity benefit in the plan includes sum assured and declared bonus. Which of these category of plans, has he purchased? Select the correct answer from the list below.

• Unit linked insurance plan

• Traditional plan

• Annuity plan

Unit-linked Life Insurance Plans (ULIPs) allow a customer to participate in the market (equity and/or debt) to invest their money and also offer a life cover. Identify whether the above statement is true or false.

• TRUE

• FALSE

Mr. Purab Shetty has purchased  a life insurance plan. Under this plan he will receive a guaranteed amount on maturity. The plan does not participate in the profits of the life insurance company. Which of the following insurance plan has he purchased? Select the correct answer from the list below.

• PAR Plan

• Annuity Plan

• Non-PAR Plan

Ms Sucheta Gupta, aged 39 years, is an architect by profession and married to Rahul who is a Doctor. She is having a 5 years old son. Identify which could be her Top 2 financial needs?

• • Life Cover • Tax Planning

• • Life Cover • Children future financial planning

• • Retirement Planning • Life Cover

• • Children future financial planning • Loan Liabilities

Mr Tambe,aged 42 years is a senior manager in a MNC, living with his homemaker wife and 12 year old daughter. During the conversation he has told you that he already has adequate life cover and has no liabilities. Identify which financial needs you may talk about, with her?

• • Life Cover • Estate planning

• • Life Cover • Children future financial planning

• • Retirement Planning • Life Cover

• • Children future financial planning • Health Contingencies

_______ provide additional benefits at cheapr cost in an insurance plan. Select the correct answer from the list below.

• Riders

• Bonus

• Human Life Value (HLV)

Critical Illness is a rider offered with HDFC Life insurance plans. Identify whether the above statement is true or false.

• TRUE

• FALSE

Under this type of life insurance plan, bonus is declared only if the insurer makes a profit. Which type of plan is this? Select the correct answer from the list below. 

• ULIP

• Non PAR

• PAR

The Non PAR type of life insurance plan provides a guaranteed amount on maturity, but does not participate in the profits of the life insurance company. Identify whether the above statement is true or false.

• FALSE

• TRUE

If Chosen at Inception, the Immediate Income Option of HDFC Life Sanchay Par Advantage offers payouts next month onwards.

• FALSE

• TRUE