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    Question

    Which of the following is a type of life insurance policy that combines insurance coverage with investment?

    1)Term life insurance

    2)Whole life insurance

    3)Unit-linked insurance plan (ULIP)

    A 1 only Correct Answer Incorrect Answer
    B 1 and 2 only Correct Answer Incorrect Answer
    C 3 only Correct Answer Incorrect Answer
    D 2 only Correct Answer Incorrect Answer
    E 1, 2 and 3 Correct Answer Incorrect Answer

    Solution

    ULIP is a type of life insurance policy that allows policyholders to invest in various types of funds while also providing insurance coverage. Term life insurance provides pure insurance coverage without any investment component, while whole life insurance is a traditional life insurance policy that provides coverage for the policyholder's entire life.

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