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      Question

      A form of whole-life insurance with a predefined number

      of premiums to be paid is known as?
      A Hold-Harmless Agreement Correct Answer Incorrect Answer
      B Incontestability Provision Correct Answer Incorrect Answer
      C Level Premium Insurance Correct Answer Incorrect Answer
      D Limited Payment Life Insurance Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Life insurance is a contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured. The insurance company promises a death benefit in consideration of the payment of premium by the insured with a pre-defined number of premiums.

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