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Questions and Answers
What is the main characteristic of a term life insurance?
What is the main characteristic of a term life insurance?
- It is the most expensive form of life insurance
- It provides lifelong coverage
- It provides coverage for a specified term of years (correct)
- It offers investment and savings components
Which type of insurance is also known as non-life insurance?
Which type of insurance is also known as non-life insurance?
- Term insurance
- Health insurance
- General insurance (correct)
- Whole life insurance
What is the primary purpose of term insurance?
What is the primary purpose of term insurance?
- To offer investment opportunities
- To provide a pure risk cover (correct)
- To accumulate cash value over time
- To provide lifelong coverage
What is the sum assured paid for in term insurance?
What is the sum assured paid for in term insurance?
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Which life insurance product is described as the cheapest form of life insurance?
Which life insurance product is described as the cheapest form of life insurance?
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