Life Insurance

A policy that provides coverage for property damage

A legal contract that insures the life of a person in exchange for a premium (correct)

A financial investment that guarantees a return upon the insured's death

A form of health insurance that covers medical expenses

They become the new policyholder

They receive a stated sum of money from the insurance company (correct)

They receive a refund of the premium paid

They are responsible for paying the premium

Income is irrelevant when it comes to life insurance

Income has no impact on one's quality of life

Income plays a crucial role in the quality of life that one can enjoy (correct)

Income only affects one's physical health

<p>A life insurance product where a major portion of the premium is used to purchase units in a variable life fund</p> Signup and view all the answers

<p>1996</p> Signup and view all the answers