Banca - Knowledge Assessment 4 - GCAP

Choose the correct answer from A, B, C and D - Statement I: In GCAP, if customer is opting for lump sum payout on maturity, installments payable after maturity date are discounted at a rate of 5% Statement II: In GCAP with 7 year PPT, death benefit payable is 11 times Annualized Premium during the first 8 years.

Choose the correct answer from A, B, C and D - Statement I: Maturity benefit in GCAP is 40% of SA and Accrued Bonus Statement II: Paid up option is available in GCAP (PPT 5,7 and 10) after one full year’s premium payment is completed.

Choose the correct answer from A, B, C and D - Statement I: In GCAP, Additional benefit for high annualized premium is paid only for policies with annualized premium of 100,000 and above Statement II: In GCAP, Guaranteed Accrual Addition percentage for female lives is same as 3 years elder male

Choose the correct answer from A, B, C and D - Statement I: GCAP plan offers both lump sum payout and monthly income as its death benefit Statement II: Husband can propose GCAP Plan on the life of his wife

Choose the correct answer from A, B, C and D - Statement I: Nominee in GCAP will continue to receive 5.5% of SA as money back after insured’s death. Statement II: GCAP with 10 year Policy Term cannot be taken on the life of a 5 year old child