Which kind of insurance policy is a combination of insurance as well as investment?

Money Back or Cash Back plans

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Unit Linked insurance plan

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Annunity Plans

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Term insurance

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Solution

The correct option is B
Unit Linked insurance plan

A Unit Link Insurance Plan is basically a combination of insurance as well as investment. A part of the premium paid is utilized to provide insurance cover to the policy holder while the remaining portion is invested in various equity and debt schemes.

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