LIC launches Dhan Varsha Plan

Current Context: Life Insurance Corporation of India launched the ‘Dhan Varsha’ Insurance Plan.

• It is a non-linked, non-participating, individual, savings, single-premium life insurance plan.
• It is a closed-ended plan.
• It provides financial assistance to the family in the event of an untimely death of the life assured in a policy term.
• It offers both medical and non-medical schemes.
• In the case of the life assured surviving the designated date of maturity, both the “Basic Sum Assured” and accrued Guaranteed Additions will be paid.

Question:

Q.1 Which is not one of the characteristics of LIC Dhan Varsha Life Insurance Plan?
a. Non-linked
b. Non-participating
c. Non-contingent
d. Single premium