Q405
Which among the following can be categorised under contingency products?
A.
Bank deposits
B.
Life insurance
AnswerC.
Shares
D.
Bonds
Answer: Option B
Solution
Answer: Option B
Solution:
Life insurance can be categorised under contingency products. If there is no contingency, no payment is made. In life insurance contract, payment is certain because the death or the expiry of term will certainly occur.