New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Which type of insurance usually requires higher premium

    ?
    A Broad Form insurance Correct Answer Incorrect Answer
    B Whole life insurance Correct Answer Incorrect Answer
    C Health insurance Correct Answer Incorrect Answer
    D Term insurance Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Broad form insurance coverage extends beyond the basics to include rare events that may be of serious risk to the insured. This type of insurance usually requires that a higher premium, and often a deductible, be paid. Broad form insurance can be applied to nearly all forms of insurance, including investments, assets, etc.

    Practice Next