Question

What is a characteristic feature of Term insurance contracts?

a.

Availability of loans on the policy

b.

Provision of benefits only in the event of death

c.

Premium payment throughout the policyholder's life

d.

Option to continue the cover without paying any premium after a certain age

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (b).Provision of benefits only in the event of death Explanation:Term insurance contracts provide benefits only in the event of death and typically do not offer loans on the policy.

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Q. What is a characteristic feature of Term insurance contracts?
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