What is the minimum lock-in period for a ULIP investment? Option: "15 years", "3 years", "5 years", "There is no lock-in period"

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What is the minimum lock-in period for a ULIP investment?

"15 years"

"3 years"

"5 years"

"There is no lock-in period"

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How do ULIPs and Mutual Funds differ in terms of lock-in periods?

"Lock-in periods for both ULIPs and Mutual Funds are determined by the individual investor.

"Both ULIPs and Mutual Funds have a lock-in period of five years.

"ULIPs have no lock-in period, while Mutual Funds have a mandatory lock-in period of three years.

"ULIPs typically have a lock-in period of five years, while open-ended Mutual Funds have no lock-in period.

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What is the primary purpose of the lock-in period in ELSS and ULIP?

To prevent premature withdrawal of funds.

To ensure investors stay invested for a longer term.

To allow investors to reap long-term investment benefits.

All of the above

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What is the lock-in period for withdrawals in a life insurance policy?

"3 years"

"2 years"

"1 year"

"5 years"

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What is the primary difference between ELSS and ULIP?

All of the above

ELSS has a shorter lock-in period than ULIP.

ELSS is a type of mutual fund, while ULIP is an insurance product.

ELSS invests primarily in equity, while ULIP offers a mix of investment options.

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What type of life insurance combines investment and insurance components?

"Unit Linked Insurance Plan (ULIP)"

"Money Back Policy"

"Endowment Plan"

"Term Insurance"