Q. Why is understanding Human Life Value (HLV) important for a life insurance agent?

View solution

Q. What does HLV stand for in the context of life insurance?

View solution

Q. How does life insurance differ from general insurance?

View solution

Q. Why are level premiums necessary in life insurance?

View solution

Q. What is the primary difference in risk between general insurance and life insurance?

View solution

Q. Why do insurance companies use level premiums for life insurance policies?

View solution

Q. How does the concept of level premiums apply to general insurance policies?

View solution

Q. What role does the Principle of Pooling play in life insurance?

View solution

Q. What is the purpose of the life insurance policy document?

View solution

Q. Why is life insurance often compared to financial products?

View solution

Q. What is one of the advantages of cash value life insurance contracts?

View solution

Q. What is one of the disadvantages of cash value life insurance contracts?

View solution

Q. The principle of risk pooling in life insurance primarily serves to:Which document serves as evidence of the life insurance contract and contains all the terms and conditions of the insurance?

View solution

Q. The principle of risk pooling in life insurance primarily serves to:

View solution

Q. What does the sum assured in a life insurance policy imply?

View solution

Q. What is one of the advantages of life insurance as a financial product?

View solution

Q. What is one of the disadvantages of life insurance as a financial product?

View solution

Q. In financial terms, what is an asset?

View solution

Q. What does the Human Life Value (HLV) concept measure?

View solution

Q. What is a characteristic of a level premium in a life insurance policy?

View solution