NEW
Font size
WorksheetsLife insurance
Total questions: 10
Worksheet time: 10mins
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
