n NISM Certifications
NSM General NISM
Medium

Why did IRDAI introduce a standard immediate annuity product in January 2021?

Practice question from IC 38 Mock Test 10 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    To make it difficult for customers to make informed choices

  2. B

    To increase market confusion about annuity schemes

  3. To provide uniformity across insurers and reduce market confusion about annuity schemes

    Correct answer

  4. D

    To increase mis-selling and potential disputes

A full explanation for this question is being written. In the meantime, the correct answer is highlighted above.

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