Explain to us, Why, Young People are charged Less Life Assurance Premium, when compared to the Old People.

Related MCQs

• The Premium, Paid for Whole-Life Assurance, is --- than the Premium, Paid for Term Assurance.
• You are Paying a Higher Premium towards Your Life Assurance Policy, as compared to the Others. What Impact, will it have, on the Compensation-Paid, (as compared to the Others), to the Beneficiary, in the Event of Your Death?
• Mr. Ramesh is 55 Years' Old, and has 5 Working-Years, Left for Retirement. Currently, His Annual Income is Rupees 5 Lakhs, and He has purchased a Life Assurance Policy of Rupees 15 Lakhs. If He were to die Pre-Maturely, in the Current-Year, it-self, then, How Much Will His Family get from the Life Assurance Company?
• Identify the Life Assurance Plan, where, the Premium is Payable throughout the Life of the Life-Assured.
• Name the Public Sector Life Assurance Company, formed as a Result of Nationalisation of Life Assurance in India.
• In Relation to Life Assurance, Look at the Following Two Statements, and Select the True One(s): I: Age is Material Information, and may affect the Terms of Underwriting. II: If Age is Found to be Different, the Only Effect is on the Premium-Rate.
• From the Following Options, Select the One, that is Not a Factor, in Determining the Life Assurance Premium.
• Mr. Vimal is a 32-Years' Old, Healthy, Non-Smoker, Teetotaller Individual; Who applies for Life Assurance from ABC Limited Insurance Company. Which One of the Following Statements, will Hold True, with Regard to Risk-Acceptance by the Insurance Company?
• Why is, Cash in the Accumulation Account, Not Guaranteed, in Case of Variable Life Assurance Products?
• Mr. Ramesh is Married, and wants to buy a Life Assurance Cover on His Friend's Life. Find Out, if He will be Able to do so.