Which of the following is untrue?
A. Insurance promotes efficient use of existing resources
B. Insurance contributes to healthy economy and national productivity
C. Insurance policy can be used as a collateral security
A. A is true
B. B is true
C. A & B correct
D. None of the above
Answer: Option D
Solution(By Examveda Team)All the statements are incorrect.
Insurance does not promotes efficient use of existing resources, Insurance does not contribute to healthy economy and national productivity and Insurance policy cannot be used as a collateral security.
A. Par policies do not participate in the profits of the insurance companies
B. Under Traditional plans, investments are made without any regulatory supervision
C. Non-participating policies could be offered in linked or non-linked platform
D. Non-par policies are with profit policies
A. Accept with reduced sum assured
B. Reject the proposal
C. Accept with lien
D. Accept with extra premium