Multiple choice

As per IRDA, all universal life products are known as

  1. ULIPs

  2. variable insurance products

  3. Both 1 and 2

  4. None of these

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Variable life insurance is a permanent life insurance policy with an investment component. The policy has a cash value account which is invested in a number of sub-accounts available in the policy.