Multiple choice general knowledge

Type of limited payment policy that required only one premium payment?

  1. Fixed premium policy

  2. Single premium policy

  3. Initial premium policy

  4. None of the option
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A single premium policy is a type of limited payment life insurance where the entire premium is paid in one lump sum at policy inception. Option B correctly identifies this unique payment structure. Fixed premium policies require regular payments, and 'initial premium' is not a standard policy classification.

Keep practicing — related questions