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    Question

    A contract between you and an insurance company in which

    you make a lumpsum paymentor a series of payments and in return obtain regular disbursements beginning either immediately or at some point in the future is called?
    A term insurance Correct Answer Incorrect Answer
    B annuity plan Correct Answer Incorrect Answer
    C ULIP Correct Answer Incorrect Answer
    D hybrid policy Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    An annuity is a plan that helps you to get a regular payment for life after making a lump sum investment. The life insurance company invests the money of the investor and pays back the returns generated from it.

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