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Marketing of Financial Services
June 2021 Examination
1. One week ago you bought a ULIP policy from a private Life Insurance company. On receiving the policy copy, you realize that the Life Insurance policy was mis-sold. Would it be possible for you to return the policy? What strategy would you follow to settle the matter with the insurance company? (10 Marks)
Ans 1.
INTRODUCTION:
Mis-sold life insurance policy can be sold to someone in many different ways. Firstly, let us understand the meaning of mis-sold life insurance policy. At times a policy is not what a customer is looking for, and they have some doubt about it, and if the customer takes the policy from an organization under pressure, then such policy is said to be a mis-sold policy. This happens when an aggressive sale is
2. Your client wants to invest in Mutual Funds that rebalance the portfolio between equity and debt. Explain how it could be beneficial for your client to invest in such funds. (10 Marks)
Ans 2.
INTRODUCTION:
In such investments, many investors bring in their capital based on trust and make an investment in such investments. These trusts are managed by a highly experienced team of financial experts called Asset Management Company. They further invest these accumulated finances in various financial assets such as stocks, bonds, equities, and many as such. This type of investment is called a mutual fund. The debt market is
3. You are a Financial Planner. Your client Tarun Ahuja aged 37 years works with an IT company earning Rs 15 lakhs per year. His wife Pooja, aged 34 years, is a homemaker. They have one daughter Rimmi aged 5 years. The couple requires your help to make some financial decisions. (You can make any assumptions to further build up your case.)
a. Tarun wants to buy a Pure Risk Life Insurance cover of Rs 1.5 crore. He is confused whether he should buy an Endowment or a Term Plan. Recommend the product best suited for his requirement. (5 Marks)
Ans 3a.
INTRODUCTION:
A financial protective shield is provided against the death of the person who has taken the life insurance, such type of offer is called the pure risk cover. If the person whose life is insured dies during the policy’s duration, then the insurance company pays the assured amount to the nominee of the deceased person. However, if the assured person survives until the end of the policy period, there is no payment. So, in a nutshell,
b. Tarun and Pooja want your help to invest for Rimmi’s higher education which they estimate would be required after 16 years. (5 Marks)
Ans 3b.
INTRODUCTION:
In India, the cost of education has started to increase at a high-speed rate. As the education level starts to rise from secondary education to higher education, the fee requirement also increases. Parents find it challenging to meet the fee structure’s demand and other various costs related to education. In the given case, Mr. Tarun Ahuja and his wife Pooja wish to invest at present for 16 years to have a lump sum after 16 years for the
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