WorksheetsProduct Quiz
Total questions: 15
Worksheet time: 29mins
Mr. Rohit Goyal, 25 year businessman, is intersted in Sanchay Par Advantage and want to invest undder Guraranteed Income Option. He wants to know the rate of guaranteed income as a percentage of annual premium. Identify the correct Guarnateed Income Rate.
50%
28%
40%
50.80%
Sanchay Par Advantage offers the flexibility to the policyholder to choose and receive the survival benefits on any one date as per their choice. Select the correct answer from the list below.
True
False
Mr. Arun Goswami bought Sancha Par Advantage under deffered income option where he paid all the premiums as and when due. During the payout period he received both guaranteed income and cash bonus for 10 years. Now he wants to know that what would be the surrender benefit that he can receive. Choose the correct statement given below:
The paid-up policy will cease to qualify for the addition of any future bonuses (if declared)
The Cash Bonus payouts (if declared) shall be stopped immediately until the end of the premium payment term
Cash Bonus will start again after the end of premium payment term only and will be scaled down by the ratio of the premiums paid to the number of premiums payable under the policy
Policy will be made paid-up at the end of the premium payment term
State whether the following statement is True or False : Under Sanchay Plus Plan, risk cover starts from date of commencement of policy for all lives including minors.
True
False
Mrs. Shivani wants to secure her son's future by investing in Sanchay Plus plan. She is looking for enhanced guaranteed benefit as she is willing to invets Rs. 5 lakh for 10 years under guaranteed income option. What percentage of annualised premium can be offered to her as additional income?
1.50%
1.70%
2.50%
3%
Which of the following statements is false with regards to annual income percentage under Sanchay Plus Plan?
Income per frequency for semi annual mode is : 99% of annual income X 1/2
Income per frequency for Quarterly mode is : 97% of annual income X 1/4
Income per frequency for Monthly mode is : 96% of annual income X 1/12
Income per frequency for semi annual mode is : 98% of annual income X 1/2
Mr. Amol Tipnis, aged 46 years, works in a bank. He is married and his son has completed his graduation. He purchased Sanchay Plus with the Guaranteed Income Option for a 13 year term to have an additional income after he retires. How will he receive the maturity payout?Select the correct answer from the list below.
He will receive a guaranteed income for 13 years, from the 13th year to the 25th year in arrears, with the option to take the future payouts as a lump sum
He will receive a guaranteed income for 12 years, from the 14th year to the 25th year in arrears, with the option to take the future payouts as a lump sum
He will receive a lump sum payout at the end of the 13th year
He will receive a guaranteed income for 20 years, from the 14th year to the 33rd year in arrears
Mr. Shravan Sardesai, aged 50 years, works in a public sector company and will retire in the next 10 years. He purchased Sanchay Plus with the Life Long Income Option for an 11 year term to supplement his post retirement income. How will he receive the maturity payout?Select the correct answer from the list below.
He will receive a guaranteed income in arrears from the 12th year till he attains 99 years and a return of premium at the end of the payout period, with the option to take the future payouts as a lump sum
He will receive a guaranteed income for 25 years, from the 11th year to the 35th year in arrears and a return of premium at the end of the payout period, with the option to take the future payouts as a lump sum
He will receive a guaranteed income from the 12th year onwards in arrears, for the duration of his whole life
He will receive a guaranteed income for 30 years, from the 11th year to the 40th year in arrears, with the option to take the future payouts as a lump sum
On which plan option/s of Sanchay Plus will you receive enhanced maturity/income benefits if you pay an annual premium of more than Rs. 1.5 lakhs?Select the correct answer from the list below.
Only Long Term Income Option
Only Guaranteed Income Option
Only Life Long Income Option
All plan options
Under the ProGrowth Plus plan, what is the death benefit paid to the nominee if the life assured dies before 60 years?
Greater of Sum Assured (less all withdrawals made during the last two years before date of death) or Total Fund Value or Minimum death benefit of 105% of the premiums paid
Minimum Death Benefit of 110% of the premiums paid
Higher of: Fund Value/Minimum Death Benefit of 105% of the premiums paid
Fund value paid at prevailing unit price
When a ProGrowth Plus plan matures, the life assured redeems _________ units at the prevailing unit price and gets the fund value.Select the correct answer from the list below.
Accrued
Surplus
Unclaimed
Balance
The ProGrowth Plus Opportunities Fund is exposure to:Select the correct answer from the list below.
Equity-related instruments
Debt-related instruments
Mid-cap equities and equity-related instruments
Large-cap equities and debt-related instruments
Identify a correct charge of the ProGrowth Plus plan. Select the correct answer from the list below.
Premium Allocation Charge for the first year is 3%, second year is 2.5% and third year onwards is 0.5%.
A premium redirection request executed by the company’s website will be charged Rs. 25 per request.
Policy Administration Charge for the first five years will be 0. 2% of annualised premium charged per month
Policy alteration request initiated by the life assured will attract a charge of Rs. 350 per request.
Describe HDFCLife Pension Guaranteed Plan. Select the correct answer from the list below:
Regular premium retitement Plan
Limited premium retirement saving product
Single premium annuity product
None of the above
For which option of HDFC Life Pension Guaranteed Plan is policy loan allowed? Select the answer from the list below:
Return of Purchase Price Option
Loan is not allowed under this plan
Loan is allowed under deffered life annuity option
Loan is allowed under all annuity options
