CAM Interview Questions and Answers

There are various types of charges in a ULIP plan.

• ULIP plans have different types of charges such as premium allocation charges, policy administration charges, fund management charges, mortality charges, etc.

• Premium allocation charges are deducted from the premium paid by the policyholder and are used to cover the initial expenses of the plan.

• Policy administration charges are levied for the administrative services provided by the insurance company.

• Fund management charges are ...read more

The question is unclear and lacks context.

• Please provide more information or clarify the question.

• It is not clear what 'plan insurance' refers to.

• Without further details, it is difficult to provide a meaningful answer.

ULIP plans can help minimize the amount of taxes paid by individuals.

• ULIP plans offer tax benefits under Section 80C of the Income Tax Act, allowing individuals to save on taxes.

• Investing in ULIPs can help in long-term wealth creation while also providing insurance coverage.

• ULIPs offer flexibility to switch between funds based on market conditions and risk appetite.

• ULIPs also provide the option to invest in equity, debt, or a combination of both based on the individual's fina...read more

IRDA stands for Insurance Regulatory and Development Authority. It is a regulatory body that oversees the insurance industry in India.

• IRDA regulates the insurance industry in India to ensure fair practices and protect the interests of policyholders.

• It issues licenses to insurance companies, monitors their financial performance, and enforces regulations.

• IRDA also promotes the development of the insurance sector by introducing new products and improving customer awareness.

• For e...read more