Licentiate Examination - IC 01 - Principles of Insurance Exam - Important Points
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Money market fund - Invests major portion of money in instruments such as Treasury Bills, Certificates of Deposit, etc.
Claim settlement in ULIP - On maturity of the plan the fund value is paid, On death of the life insured during the tenure of the policy either the sum assured or the fund value is paid, whichever is higher.
Switching in ULIP - Allows transfer of existing investments from one fund to another during the tenure of the policy.
Redirection in ULIP - Allows investment of new premium money (after deductions) in a fund other than the fund which has existing investments.
An Annuity is an Insurance Plan, which makes Periodic Payments (Annuities) to the Annuitant.
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