Question : Which of the following is not a type of insurance policy?
Option 1: Term insurance policy
Option 2: Whole life insurance policy
Option 3: Money back insurance policy
Option 4: Share insurance policy
Answer (1)
25th Jan, 2024
Correct Answer: Share insurance policy
Solution : The correct answer is (d). Share insurance policy
Share insurance policy is not a recognized type of insurance policy. The term "share insurance" may refer to a specific type of coverage for credit unions or cooperative financial institutions, where deposits and shares held by members are insured against losses. However, it is not a widely recognized category of insurance policy in the general sense.
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