Which one of the following statements is correct?

A. Every plan of insurance is a combination of two basic plans

B. The name given to a plan indicates the benefits available under the plan

C. Both the statements above are correct

D. Both the statement s above are wrong

Answer: Option A

Solution(By Examveda Team)

Every plan of insurance is a combination of two basic plan. Insurance cos are offering variants of term plans and have crafted innovations that suit various customers and situations.