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Unitized with-profit UK insurance contract

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Unitized with-profit UK insurance contract

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Questions and Answers

What happens to the value of shares in a unitized with-profit policy as the fund earns investment return?

The value of shares increases (correct)

The value of shares decreases

The value of shares remains constant

More shares are issued

Why were unitized with-profit products withdrawn from the UK and Australian markets by the early 2000s?

Due to lack of interest from customers

Due to poor fund performance

Due to poor publicity surrounding with-profit business (correct)

Due to low insurance coverage

How is the benefit in equity-linked insurance calculated?

As a fixed amount

Based on the insurance company's profits

Linked to the performance of an investment fund (correct)

As a percentage of the premium paid

What is the main focus of Chapter 8 in the context of life insurance?

Introducing multiple state models Signup and view all the answers

In Chapter 9, the theory developed in earlier chapters is applied to problems concerning what type of benefits?

Pension benefits Signup and view all the answers

What is the key focus of Chapter 10 when it comes to risk in the insurance context?

Exploring diversifiable and non-diversifiable risk Signup and view all the answers

What important quantity is defined in the chapter on survival models?

Force of mortality Signup and view all the answers

How does term insurance for lenders demanding from borrowers differ from standard term insurance?

It requires a medical examination Signup and view all the answers

For with-profit whole life insurance, what are the advantages and disadvantages of a cash bonus for the insurer?

Can lead to policy lapses Signup and view all the answers

Why do insurers commonly design whole life contracts with premiums payable only up to age 80?

To limit insurance risk exposure Signup and view all the answers