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WorksheetsBtc
Total questions: 10
Worksheet time: 4mins
Name
Class
Date
1.
ILP gives more flexibility and transparency on the protection and investment portfolio?
a)
true
b)
false
2.
Which statement is CORRECT?
a)
All GE IL products apply the same allocation rate
b)
Premium is proportional to the sum assured
c)
ILP provides better coverage and benefit to Insured than Traditional Products
d)
Life Insured or Policyowner needs to regularly review the benefits
3.
ILP premium will be allocated to purchase insurance first, the balance will purchase investment units.
a)
true
b)
false
4.
Which of the following is NOT true for ILP?
a)
As long as the TIV sufficient to pay the COI, policy stays in-forced
b)
Wide variety of benefits available to choose from depending on needs
c)
Flexibility on choosing level of protection and investment
d)
Promise higher returns than Traditional life insurance
5.
The below are the factors affecting the total COI, EXCEPT
a)
Sum Assured
b)
Health Condition (Medical History)
c)
Term of coverage
d)
None of above
6.
As long as premium is paid regularly throughout the policy term, the policy will not lapsed
a)
true
b)
false
7.
Which is NOT the unique feature of ILP?
a)
Choice of funds available to choose from…
b)
You bear all the investment risk
c)
Premium proportional to Sum Assured
d)
Benefits can be adjusted upwards and downwards
8.
In normal circumstances, Life Insured can Partial Withdraw the Cash value (TIV) without affecting the sustainability of the policy
a)
true
b)
false
9.
Which of the statements is TRUE
a)
The premium of ILP is guaranteed throughout the years.
b)
The insurance charges are not guaranteed
c)
The projected Cash values (TIV) are guaranteed
d)
Investment return has NO relationship with sustainability of policy <br />
10.
Life Insured has right to exercise the below options, EXCEPT
a)
Premium Holiday
b)
Partial Withdrawal
c)
Vary of Sum Assured
d)
Non Lapse Guarantee
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