Which of the following statements is incorrect?

A. Term insurance can be taken as a standalone policy

B. Term insurance cannot be taken as a rider

C. Term insurance policies are sold by life insurance companies

D. Term insurance policies provide cover for a fixed period

Answer: Option B

Solution(By Examveda Team)

A rider is a provision of an insurance policy that is purchased separately from the basic policy and that provides additional benefits at additional costs. So, term insurance cannot be taken as a rider.