Question

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

a.

It offers a higher sum assured

b.

It has a shorter policy term of 24 months or less

c.

It provides coverage for critical illnesses

d.

It includes a return of premiums paid on the date of maturity

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (b).It has a shorter policy term of 24 months or less Explanation:Temporary Term Assurance is characterized by a shorter policy term of 24 months or less, making it distinct from other types of term assurance.

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