12. Below are the features of the insurance policy under what types of life insurance? * Low initial premium due to the fact that coverage is temporary Premium increase with each new term O A. Term Life Insurance O B. Whole Life Insurance O C. Endowment Life Insurance O D. Investment-Linked Insurance

Q: 15. Which of the following does not belong to the main products of life insurance? * O A. Endowment…

A: Insurance is a financial mechanism that protects an insured asset from any type of risk. There are…

Q: Insurance that is for a limited time period, with no cash value accrued. a) Universal Life b) Term…

A: Term life insurance: Term life insurance delivers coverage for a particular period of time. It’s…

Q: Pros and cons of long-term care insurance.   Discuss the pros and cons of long-term-care insurance.…

A: Long term care insurance: Long term care insurance means  an insurance that pays those costs that…

Q: The contract between insured and insurer is O a. Coverage O b. Face value Oc. Policy O d. Premium

A: Insurance means where insurance company agree to pay the specified amount to insured person in case…

Q: Differentiate the follo

A: Retirement                Personal Investment Plan Advantages Government decides interest…

Q: b) Define deductible. c) What happens to your premium when the deductible is lowered? d) List three…

A: Honor code: Since you have posted a question with multiple sub-parts, we will solve the first three…

Q: Look at Note 31.2, “Retirement Benefits.” AF incorporates estimates regarding staffturnover, life…

A:

Q: The policy holder who receives the coverage is called ________________. a. Premium b. Face value c.…

A: There are various terminology used in insurance business

Q: Which of the following earns a fixed rate of return? Whole life insurance. Term-life insurance.…

A: There are two main types of life insurance:- Term life insurance and whole life insurance. Term life…

Q: 11. Which of the following is NOT the features of investment-linked insurance? O A. The insured can…

A: A life insurance plan that combines investment and protection is referred to as an investment-linked…

Q: When an insurer accepts accepts risk from a large number of enrollees. OA. the average loss that…

A: The law of large numbers, which states that a large number of trials would lead to the average…

Q: 1. The significant risk that is transferred from the policyholder to the issuer of an insurance…

A: ‘’Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: . Which of the following is TRUE regarding a whole life insurance policy that pays a dividend?…

A: Please not th  at as per the guidelines, I am required to answer only the first three questions.…

Q: A term life insurance offers both insurance coverage and a savings feature. The premiums associated…

A: Term life insurance is type of insurance that guarantees the death benefit, if the person dies…

Q: Discuss SEVEN (7) factors affecting Life insurance premium. Please provide justification for each of…

A: Life insurance is a formal contract between the life insurance company as insurer and an individual…

Q: The least expensive form of whole life insurance protection is:   A. limited payment. B. term. C.…

A: Whole life insurance or straight life insurance protects the life of the covered. Both life…

Q: The policy holder who receives the coverage is called O a. Premium O b. Insured O. Face value O d.…

A: Insurance is a term used for the security provided in monetary terms by an insurance company to a…

Q: Which of the following isa type of "Maximum Efficient Contract"? O Term Insurance that has a 20 yr…

A: Maximum Efficient Contract suggests that the party in the contract should benefit the most from such…

Q: f the renewal of the policy was at the discretion of the insurer, would you expect the premiums to…

A: Insurance renewal means that the coverage on insurance continues to exist after expiration of the…

Q: 1. What is the difference between co-pay and coinsurance? a. They mean the same thing and used by…

A: 1. Difference between co-pay and coinsurance                To know the difference between copay and…

Q: The price per unit of insurance is called the O premium. loss adjustment expense. O rate. O loss…

A: Premium is the amount paid to an insurance company for providing risk coverage. Loss adjustment…

Q: when reinstating a policy an insured must provide the insurer with which of the following: A.…

A: Reinstating or renew of a policy can be done within 30 days of lapse of a policy without any…

Q: Term life insurance: (select all that apply) is the least expensive form of life insurance. provides…

A: There were different types of life insurance plan were available in the market. Term life…

Q: 5. Some peode have high deductibles on their insurance policies in order mopthly rates. Others have…

A: Insurance plan with high deductible are better: 1. If you are young 2. If none of the elders or…

Q: 13. Life insurance is necessary because it can provide (among other things) the benefits. Which of…

A: A policyholder must pay a single payment up front or regular premiums over time in order for their…

Q: dissimilar to the other three options? d. Motor insurance b. Personal property insurance С. Life…

A: The answer for the multiple choice question and relevant explanation are presented hereunder :

Q: Which type of insurance has no cash value? Term life insurance Universal life insurance Variable…

A: Insurance refers to the concept of creating a policy to safeguard any sort of financial risk by…

Q: The price per unit of insurance is called the O premium. O loss adjustment expense. O rate. O loss…

A: Premium is the amount the insured needs to pay the insurer for covering any losses that the insured…

Q: Policy reserves for life insurers are the loss reserves equivalent of P&C insurers. True False

A: The question is related to Reserve in an insurance policy. Policy reserve in life insurance is a…

Q: 33) When a policy matures on the death of the insured , it is called as

A: Whole life insurance policy it represents a contract between the insured and insurer that as long as…

Q: Having convertible term life insurance is especially be nealth issues as you age. True O False

A: In this type of policy insurance company allow to change term policy to whole life insurance policy…

Q: True or False: When you prepay your insurance, your net worth decreases. Select one: O True O False…

A: Net worth can be calculated by deducting debts from the total assets. It is decrease by paying out…

Q: Explain 05 distinguishing features between Takaful and Conventional Insurance.

A: Conventional Insurance  Takaful  a) Conventional insurance is a risk transfer model. Takaful is…

Q: 8. What is the difference between a copay and coinsurance? a. Copay is typically a percentage of the…

A: Health insurance is an agreement between insurer and insured where insurer is liable to pay for…

Q: what is the annual insurance loss ratio formula?

A: The insurance loss ratio is calculated to know the profits that an insurance company can earn over a…

Q: When MUST the Policy Summary for a life insurance policy be delivered? Prior to the sales…

A: Life insurance is a type of insurance which provides assurance to a insured person to provide…

Q: Examples of health insurance offsets include all of the following, EXCEPT: a) Co-pays b)…

A: The question is based on the concept of health insurance and cover under the health policy.

Q: Which type of life insurance allows for flexible premium payments? Term life insurance Universal…

A: Flexible premiums ensure adjustments in the premiums which are beneficial for the insurance policy…