Question

What is the distinguishing feature of Increasing Term Assurance?

a.

It offers increasing premiums over time

b.

The death benefit increases in a specified order according to the year of death

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).The death benefit increases in a specified order according to the year of death Explanation:Increasing Term Assurance is characterized by a death benefit that increases in a specified order according to the year of death.

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Q. What is the distinguishing feature of Increasing Term Assurance?
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