12. Below are the features of the insurance policy under what types of life insurance? * Low initial premium due to the fact that coverage is temporary Premium increase with each new term O A. Term Life Insurance O B. Whole Life Insurance O C. Endowment Life Insurance O D. Investment-Linked Insurance
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- Briefly explain the following characteristics of long-term care insurance. Protection against inflationKindly help Which of the following statements about life insurance is NOT accurate? a) permanent insurance puts a portion of the premium paid into investment which the insured then has the potential to cash in and recoup, whereas the premium paid for term insurance is simply a sunk cost for the insured . b) permanent insurance guarantees that the policy will pay out the face value to the beneficiary upon the death of the insured , whereas term insurance won't pay out anything at all once the term has finished. c) Term insurance is almost always less expensive than permanent insurance- both the monthly premium amount as well as the amount typically spent on insurance overall. d) Term insurance is simple life insurance policy that involves a less complicated contract with fewer provisions and exemptions , whereas permanent is the type of insurance that you must take care in reading the detailed fine print in the policyWhich of the following stalements is required by Long- Term care insurers when referring lo inflation proleclion in qualified Long-Term Care policies? A.All policies must include inflation protection. B.It is mandatory for the insurance companies lo offer consumers the option of inflation protection. C.The insurance companies have the choice if hey want to offer inflation protection. D.The purchaser must requesl inflation protection after lhe policy is issued.
- Briefly explain the following characteristics of long-term care insurance. Type of long-term care policies Triggers to become eligible for benefits Exclusions Protection against inflationHow does Life and Non Life Insurance can save or protect the assets of its policy holders? Cite at least 3 examples each.The _______________ problem is when customers who are most likely to have a claim against an insurance company are those quickest to apply for an insurance contract. Group of answer choices a. Capital adequacy b. Default risk c. Adverse selection d. Mismatched maturity
- ASAP When an insurer accepts accepts risk from a large number of enrollees.OA. the average loss that will be incurred by the insurer becomes much less predictableOB. the average loss that will be incurred by the insurer becomes much more predictable.OC. the average loss that will be incurred by the insurer can be calculated with certainty.O D.the average loss that will be incurred by the insurer becomes impossible to predict.John Jones buys a renewable, convertible, nonparticipating term insurance policy. Explain the precise meaning of each of the italicized words.when reinstating a policy an insured must provide the insurer with which of the following: A. Payment of unpaid pre at rate not exceeding 6% per annum B. Payment of unpaid pre at rate not exceeding 8% per annum C. Payment of unpaid pre at rate not exceeding 9% per annum D. Payment of unpaid pre at rate not exceeding 10% per annum
- The contract between insured and insurer is ______________. a. Coverage b. Premium c. Policy d. Face valueIf the renewal of the policy was at the discretion of the insurer, would you expect the premiums to be higher or lower?The company selling the insurance policy is the _________________. a. Insurer b. Policy c. Premium d. Insured