Question
Which of the following is a type of life insurance
policy that combines insurance coverage with investment? 1)Term life insurance 2)Whole life insurance 3)Unit-linked insurance plan (ULIP)Solution
ULIP is a type of life insurance policy that allows policyholders to invest in various types of funds while also providing insurance coverage. Term life insurance provides pure insurance coverage without any investment component, while whole life insurance is a traditional life insurance policy that provides coverage for the policyholder's entire life.
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