Comprehension
Refer to the table given below and answer the questions that follow.
TERM LIFE INSURANCE
TERM LIFE INSURANCE
| Policy/Insurance | Max age of Entry | Tenures possible | Max. age at expiry | Min. sum assured | For life cover of Rs. 10 lakh premium in Rs. (Entry age/coverage period in yrs) | |||
| \((\frac{30}{25})\) | \((\frac{40}{20})\) | \((\frac{5}{10})\) | \((\frac{55}{10})\) | |||||
| ICICI Prudential | 50 | 5 to 25 yrs. | 65 | Rs. 1 lakh | 3043 | 5110 | 8197 | N.A. |
| HDFC Standard Life | 60 | 5 to 30 yrs | 65 | Rs. 1 lakh | 3050 | 5110 | 8320 | 12600 |
| Max New York Life | 55 | 5, 10, 15, 20, 25 yrs. | 60 | Rs. 2.5 lakh | 3220 | 5650 | 10000 | 12150 |
| Birla Sun Life | 55 | 5, 10, 15, 20, 25 yrs. | 70 | Rs. 2 lakh | 3160 | 5150 | 8790 | 13100 |
| LIC Anmol Jeevan | 50 | 5 to 25 yrs. | 60 | Rs. 5 lakh | 3860 | 7010 | 11450 | N.A. |
Question: 1
The maximum that a 50-year-old individual can hope to insure his life for is
The maximum that a 50-year-old individual can hope to insure his life for is
Updated On: Oct 24, 2024
- 20 yrs
- 15 yrs
- 10 yrs
- Cannot be detemined
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The Correct Option is A
Solution and Explanation
The correct option is (A): 20 yrs
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Question: 2
From the table above, if a 50-year-old individual wants to buy a life insurance cover of Rs. 10 lakh (for a coverage period of 10 yrs.), then his best option is
From the table above, if a 50-year-old individual wants to buy a life insurance cover of Rs. 10 lakh (for a coverage period of 10 yrs.), then his best option is
Updated On: Oct 24, 2024
- Max New York Life
- HDFC Standard Life
- ICICI Prudential
- Cannot be determined
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The Correct Option is C
Solution and Explanation
The correct option is (C): ICICI Prudential
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Question: 3
From the table, how many life insurance options are available for a 51-year-old who wants 6 years of coverage?
From the table, how many life insurance options are available for a 51-year-old who wants 6 years of coverage?
Updated On: Oct 24, 2024
- 3
- 2
- 1
- None of these
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The Correct Option is D
Solution and Explanation
The correct option is (D): None of these
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