Question

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

a.

Increasing term insurance

b.

Decreasing term insurance

c.

Both increasing and decreasing term insurance

d.

Mortgage insurance

Answer: (a).Increasing term insurance Explanation:Whole life insurance contracts can be modified with increasing term insurance to meet the insurance needs of the policyholder.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

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

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

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

Q. What is one common use of Endowment insurances?

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

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

Q. What is a characteristic of Pure endowments?

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

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

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

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

Q. What are With-profit contracts?

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

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

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

Q. Which of the following is NOT typically covered under Critical Illness Assurance?

Q. How are alternative forms of Critical Illness Assurance different from traditional policies?

Q. What is the benefit of Critical Illness Assurance policies paying hospitals directly?

Q. What is Deferred Whole Life Assurance?

Q. What distinguishes Temporary Term Assurance from other types of term assurance?

Q. What is the unique feature of Term Assurance with Return of Premium?

Q. What is the characteristic of Decreasing Term Assurance?

Recommended Subjects

Are you eager to expand your knowledge beyond IC 92 Actuarial Aspects of Product Development? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!