Question

What is the primary characteristic of term insurance contracts?

a.

They offer both death and survival benefits.

b.

They provide benefits only upon the death of the insured.

c.

They guarantee a return of premiums paid.

d.

They offer increasing benefits over time.

Answer: (b).They provide benefits only upon the death of the insured. Explanation:Term insurance contracts offer death benefits only, providing financial protection to the beneficiaries in the event of the insured's death within the policy term.

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Q. What is the primary characteristic of term insurance contracts?

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