Life insurance

The product that does not have a savings component is

• Whole Life

• Endowment

• Universal Life

• Term Life

The product that typically has a reducing sum insured is

• Whole Life insurance

• Endowment

• Mortgage Term insurance

• Variable Life insurance

Which of these products has a fixed amount payable at maturity?

• Universal Variable Life

• Non-par Endowment

• Whole Life participatory

• Term Life

Term products

• always have a level premium, not varying each year.

• have nothing payable on maturity

• cannot have changes in sum insured

• may not be converted to Whole Life policies

Whole Life policies

• always have bonus options

• never have bonus options

• have bonus options, only if the policy is participatory

• have bonus options, only if the policy is non-participatory

Which of these policies will not have a cash value?

• Endowment

• Whole Life

• Universal Life

• Term

From the age of 12 to 60, as age increases, the chances of death during each year

• Stays the same

• Increases

• Decreases

• Has no correlation with age

In a typical Term policy, sold to people aged 18 to 60, the premium for each year

• Remains the same

• Increases

• Decreases

• Varies each year, depending on global health conditions

Whole Life policies usually have

• Only a death benefit, i.e. payable on death only

• Only a maturity benefit, i.e. payable on the termination of the policy

• Both death and maturity benefits

• Neither death and maturity benefits

Endowment policies usually have

• Only a death benefit, i.e. payable on death only

• Only a maturity benefit, i.e. payable on the termination of the policy

• Both death and maturity benefits

• Neither death and maturity benefits