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Which statement best explains Term insurance?

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Question ID #26812 UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC 2026 Full-Length Mock Test 4 Medium

Which statement best explains Term insurance?

Correct Answer: B. Life cover for a specified period, generally without savings component
Term insurance: Life cover for a specified period, generally without savings component

Question: Which statement best explains Term insurance?

A. Insurance Regulatory and Development Authority of India

B. Life cover for a specified period, generally without savings component

C. Person or property whose risk is covered

D. Financial or legal relationship giving a person a legitimate interest in preservation of insured subject matter

Correct Answer: B. Life cover for a specified period, generally without savings componentTerm insurance: Life cover for a specified period, generally without savings component

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Which statement best explains Term insurance? - MCQ Explanation

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Correct answer: B. Life cover for a specified period, generally without savings component