NEW
Font size
WorksheetsDay 3
Total questions: 14
Worksheet time: 7mins
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
Guaranteed income under HDFC Life Sanchay Par Advantage is available only under the ________________. Select the correct answer from the list below.
Immediate Income Option
Deferred Income Option
Ms. Amrita Kadayam had purchased Sanchay Plus plan with the Long Term Income Option. Will she receive the ROP at the end of the payout period?
Yes. Life Long Income option and Long Term Income option gives Return of Premium at the end of the payout term.
No, Guaranteed Income Option and Life Long Income option gives Return of Premium at the end of the payout term.
Mr. Anand had purchased Sanchay Plus with the Long Term Income Option for a 8 PPT and 2 year Deferment period. On 11th year instead of regular income he wanted to take the future payouts as a lump sum. Can he do so?
No, he will get all future payouts as regular income only
Yes, On the maturity date, he shall have an option to receive the Guaranteed Sum Assured on Maturity, which under this option, shall be the present value of future payouts.
What will be the death benefit if the customer dies during the payout period under the Long term income option of Sanchay Plus ?
105% of paid premium
Nominee will get income for remaining years of the payout period
10 times of annual premium
