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Mention three features of annuity policies. |
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Answer» Features of Annuity Policy are as follows: a) It is a policy under which the insured amount is payable to the assured by monthly or annual installments after he attains a certain age. b) The assured may pay the premium regularly over a certain period or he may pay the premium regularly over a certain period or he may a lump sum of money at the beginning of the Policy. c) These policies are useful to persons who wish to provide a regular income for themselves and their dependents. |
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