📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • âś–

      Question

      What is a type of life insurance policy that provides

      coverage for a certain period of time, or a specified “term” of years?
      A Catastrophe Reinsurance Correct Answer Incorrect Answer
      B Excess of Loss Reinsurance Correct Answer Incorrect Answer
      C Facultative Reinsurance Correct Answer Incorrect Answer
      D Term Insurance Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Term insurance is a type of life insurance policy that provides coverage for a certain period of time, or a specified "term" of years. If the insured dies during the time period specified in the policy and the policy is active - or in force - then a death benefit will be paid. Term insurance is initially much less expensive when compared to permanent life insurance. Unlike most types of permanent insurance, term insurance has no cash value.

      Practice Next
      More Insurance Awareness Questions
      ask-question