Q. What option is typically available to policyholders in whole life insurance contracts?

View solution

Q. What is the primary purpose of whole life insurance contracts?

View solution

Q. What is the main limitation of Term and whole life insurance contracts?

View solution

Q. Are policy loans typically available in Whole life insurance contracts?

View solution

Q. What happens if there are any unpaid loans upon the insured's death in a Whole life insurance contract?

View solution

Q. What is the primary purpose of Whole life insurance contracts?

View solution

Q. What modification can be made to Whole life insurance contracts to meet the insurance needs of the policyholder?

View solution

Q. What type of insurance contract is an Endowment insurance?

View solution

Q. What is one common use of Endowment insurances?

View solution

Q. How are Endowment insurances useful for saving money for retirement?

View solution

Q. In what scenario might an Endowment insurance be used for repaying a loan?

View solution

Q. What is a characteristic of Pure endowments?

View solution

Q. What distinguishes Money back insurance from other types of endowment policies?

View solution

Q. What is the primary purpose of Pure endowment contracts?

View solution

Q. What is the key feature of Double endowment insurance?

View solution

Q. What type of insurance provides a death benefit equal to twice the survival benefit during the contract period?

View solution

Q. What are With-profit contracts?

View solution

Q. What is the key feature of Convertible term assurance?

View solution

Q. What is the primary purpose of Critical Illness Assurance?

View solution

Q. What is the purpose of the survival period in Critical Illness Assurance?

View solution