Q443
Which of the below is not a component of ULIP premiums?
A.
Policy allocation charge
B.
Investment risk premium
C.
Mortality charge
D.
Social security charge
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
Social security charge is not a component of ULIP premiums. Social security contributions are compulsory payments paid to general government that confer entitlement to receive a (contingent) future social benefit.