WorksheetsSmart Income Plan
Total questions: 9
Worksheet time: 5mins
Smart Income Plan is a Non Participating Plan.
True
False
What are the different Premium Paying options available in Smart Income Plan
6
8
10
all of the above
The policy term for 12 yerars PPT is
(a)
How many Payout options are available in Smart Income Plan
1
2
3
4
Guaranteed Income Benefit in this Plan is 10% of Basic Sum Assured.
True
False
Survival Benefit in Enhanced Maturity option is
Guaranteed Income Benefit (GIB) – 10% of Basic Sum Assured annually in arrears
Guaranteed Income Benefit (GIB) – 10% of Basic Sum Assured annually in arrears + Simple Reversionary Income Bonus (SRIB) – paid annually in arrears
Maturity benefit in Enhanced Income Option is
Last instalment of GIB + Accrued Simple Reversionary Bonus (SRB) if any + Terminal Bonus (TB) if any
Last instalment of GIB + Accrued & unpaid Simple Reversionary Income Bonus (SRIB), if any + Terminal Bonus (TB), if any
The policy can be surrendered if at least ______full years’ premiums are paid.
1
2
3
4
GIB will commence on completion of two years from the end of premium payment term till the end of the policy term minus 1 year, as survival benefit
True
False
