Important Points for IC 89 - Management Accounting Exam
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Venture capital undertaking means a domestic company whose shares are not listed on a recognized stock exchange in India and which is engaged in business for providing services, production, or manufacture of articles or does not include such activities or sectors which specified in the negative list by SEBI with the approval of the Central Government by notification in the Official Gazette in this regard.
Insurance plans providing only death cover are called Term Insurance. If the insured does not die within the specified period, no payment is made under term insurance.
Whole life insurance is designed to provide coverage for entire lifetime of the insured. Whole life policies spread the cost of insurance cover over a longer period of time in order to level out the increasing cost of insurance in the older stage of life.
An endowment life insurance policy is designed primarily to provide a living benefit and secondarily to provide life insurance protection.
Group insurance is an insurance plan that covers a group of people, who may be members of societies, employees of an organisation or professionals in a common group.
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