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      Question

      _______________is also known as insurance-cum-investment

      policy.
      A Term Insurance Correct Answer Incorrect Answer
      B Health Insurance Correct Answer Incorrect Answer
      C Unit-Linked Insurance Correct Answer Incorrect Answer
      D Endowment Life Insurance Policy Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      This policy is also known as insurance-cum-investment category. Here, the policy holder gets the benefit of both insurance and investment. ULIP is more likely similar to mutual funds, since a part of the policy premium amount is towards insurance and the rest is invested in equity and debt instruments. Since, investments are made from a part of the policy amount, there are many benefits that are provided to the policy holder.

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