all ins

What type of life insurance is temporary and lasts for a specific period?

• Variable life insurance
• Whole life insurance
• Universal life insurance
• Term life insurance

Which type of term life insurance is most suitable for covering a mortgage or loan?

• Level term life insurance
• Whole life insurance
• Universal life insurance
• Decreasing term life insurance

What happens to the premium in an Annual Renewable Term (ART) policy?

• The premium in an Annual Renewable Term (ART) policy typically increases each year.
• The premium in an ART policy is paid only once.
• The premium in an ART policy decreases each year.
• The premium in an ART policy remains the same every year.

What is the main feature of Whole Life Insurance?

• Coverage for the entire life of the insured
• Only applicable to specific age groups
• Does not provide any death benefits
• Coverage for a limited time period

In a Family Maintenance Policy, the lump sum and monthly income are provided for how many years?

• 10 years
• 20 years
• 15 years
• 5 years

Which of the following policies builds immediate cash value due to a lump sum payment?

• Single premium whole life insurance policy
• Variable universal life insurance policy
• Annual premium whole life insurance policy
• Monthly premium term life insurance policy

What is synonymous with Universal Life Insurance?

• Term
• Rigid
• Limited
• Permanent

What does a Convertible Term Policy allow you to do at the end of the term?

• Convert the policy into a permanent life insurance policy
• Convert the policy into a car insurance policy
• Cash out the policy value
• Renew the policy for another term

Which type of policy combines Whole Life Insurance and Level Term Insurance?

• Term Life Insurance
• Variable Life Insurance
• Indexed Universal Life Insurance
• Universal Life Insurance

What does the "L" in the acronym DIAL for term life insurance stand for?

• Lifetime Term
• a) Level Term
• Lump Sum Term
• Limited Term