A policy that combines protection against premature death with a savings account that can be invested in stocks, bonds, and money market mutual funds at the policyholders discretion is called .....

INSURANCE AWARENESS

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A policy that combines protection against premature death with a savings account that can be invested in stocks, bonds, and money market mutual funds at the policyholder’s discretion is called ____

A	Variable Life Insurance
B	Inland Marine Insurance
C	Kidnap/Ransom Insurance
D	Uninsured Motorist Coverage

Explanation:

Detailed explanation-1: -Variable life insurance is a form of life insurance that combines the characteristics of life insurance and investment. Similar to any life insurance policy, variable life insurance provides a death benefit and requires the beneficiary to pay premiums into an account.

Detailed explanation-2: -Unit-Linked Insurance Plan (ULIP) Unit Linked Insurance Plans are types of insurance policy that offer both investment and insurance benefits under a single policy contract.

Detailed explanation-3: -A unit linked insurance plan (ULIP) is a combination of insurance and investment. A ULIP provides life cover that offers financial protection for your loved ones. In addition to this, it also gives you the potential to create wealth through market-linked returns from systematic investments.

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INSURANCE AWARENESS