Question

What is the key feature of Convertible term assurance?

a.

It allows the insured to renew the term assurance at the end of the original contract

b.

It allows the insured to convert the term assurance into another type of contract without medical underwriting

c.

It allows the insured to withdraw the sum assured at any time during the contract period

d.

It allows the insured to receive double the sum assured at maturity

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (b).It allows the insured to convert the term assurance into another type of contract without medical underwriting Explanation:Convertible term assurance allows the insured to convert the term assurance into another type of contract without medical underwriting.

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